25. Which of the following statements about time value of money are true?
A) Nominal and effective rates are the same for annual compounding only.
B) All else being the same: converting an annuity to an annuity due decreases the
present value.
C) For a given dollar amount, the higher the discount rate, the higher the present
value.
D) All of the above statements are correct.
E) None of the above statements are correct.
Answer A
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