Which of the following statements is true? A given present value will result in a higher future value if annual compounding is used rather than monthly compounding, Effective Annual Rate is greater than Annual Percentage Rate when annual compounding is used. A perpetuity with the cash flow starting two years from now will have the same present value as a perpetuity with the same cash flow starting a year from now. A group of cash flows of the same amount that occur every other month for the next 5 years can be considered an annuity