9. ( 6.2) Tom just got a loan for his new business, if an 11% annual interest rate is written on the contract and the interest rate gets compounded four times a year, which of the following is correct 211360331 A The nominal rate and effective rate is the same 211360331 B C D E The nominal rate is bigger than 11%. 211360331 211360331 The annual effective interest rate is 11%. 21136 21136 Tom' s loan interest is 44% per year because it compounds four times The effective rate is bigger than 11% THE 211360331 Ma ENE 211360331 FEDME 211360331 TIMB 211360331 211360331 ETME 211360331 7518 EVNE 211360331 211360331 ENE 211360331