Question: Identify the incorrect statement. Select one: a . Only the effective interest rate takes compounding into consideration. b . The nominal interest rate is the

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

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