Which one of the following statements related to annuities and perpetuities is/are correct?

I. An ordinary annuity is worth less than an annuity due given equal annual cash flows for five years at 10 percent interest, compounded annually. II. A perpetuity comprised of $500 monthly payments is worth more than an annuity comprised of $500 monthly payments, given an interest rate of 12 percent, compounded monthly. III. Most loans are a form of a perpetuity. IV.Both the future and present value of a perpetuity can be computed. V. Perpetuities are finite but annuities are not.