A credit card has an APR of $14\mathrm{.}9$ percent and charges interest monthly. The effective annual rate on this account:

a$.$ will be less than $14\mathrm{.}9$ percent.

b$.$ can either be less than or equal to $14\mathrm{.}9$ percent.

c$.$ will equal $14\mathrm{.}9$ percent.

d$.$ can either be greater than or equal to $14\mathrm{.}9$ percent.

e$.$ will be greater than $14\mathrm{.}9$ percent.