Question: 1 2 . Which of the following is not correct? The present value of an annuity due is always larger than the present value of

12. Which of the following is not correct?
The present value of an annuity due is always larger than the present value of an ordinary annuity with the same cash flows.
The future value of an annuity due is always larger than the future value of an ordinary annuity with the same cash flows.
The future value of an ordinary annuity is always larger than the future value of an annuity due with the same cash flows.
The present value of an annuity due is the same as the present value of an ordinary annuity with the same cash flows if the interest rate is zero.

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