Which of the following statements is not correct? the present value of a three-year, $150 annuity due will exceed the present value of a three-year, $150 ordinary annuity. the proportion of the payment that goes toward interest on an amortized loan declines over time. if an investment pays interest compounded annually, the effective, periodic, and stated rates of interest will all be the same. if interest rates are positive, the future value of a given sum will always be less than its present value. a loan repaid in equal periodic amounts is called an amortized loan.