Which of the following statements is true? O All the provided responses to this question are true.

O The present value of an annuity due is always greater than the present value of that same annuity if it were an ordinary annuity.

O None of the provided answers is true. The present value of an annuity due with 7 payments of X amount of dollars is equal to the sum of (1) the present value of an ordinary annuity with 6 payments of the same amount of dollars, and (2) the first payment (without discounting this latter).

O The future value of an annuity due is always greater than the future value of that same annuity if it were an ordinary annuity. More specifically, it will be greater by a factor of (1 + r) whereris the periodical interest rate

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