Question: Identify the incorrect statement. Select one: a. Increasing the compounding frequency will increase the nominal interest rate. b. Only the effective interest rate takes compounding

Identify the incorrect statement. Select one: a. Increasing the compounding frequency will increase the nominal interest rate. b. Only the effective interest rate takes compounding into consideration. c. The nominal and effective interest rates are equivalent for annual compounding. d. The nominal interest rate is the stated, or quoted, rate of interest

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