Which of the following statements is CORRECT? a. The present value of a 3-year, $150 ordinary annuity will exceed the present value of a 3-year, $150 annuity due.
b. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different.
c. An investment that has a nominal rate of 6% with semiannual payments will have an effective rate that is smaller than 6%.
d. The proportion of the payment that goes toward interest on a fully amortized loan increases over time.
e. If a loan has a nominal annual rate of 8%, then the effective rate will never be less than 8%.

e. If a loan has a nominal annual rate of 8%, then the effective rate will never be less than 8%.

Explanation:

As we know that

EAR = (1 + r ÷ n)^n -1

where,

EAR = Effective annual rate

r = interest rate

n = number of years

By applying the above formula we know that the effective annual rate should always be greater than the normal annual rate

Hence, the correct option is e.

Therefore all other options would be wrong

if kj of heat is transferred o 1200 g liquid water at 36'c, what would the new temperature of the water be? (he specific heat capacity of liquid water is 4.186 j/g''c)

a. 15'c

b.100'c

c.51'c

d.36'c

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%