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An investment opportunity promises a stated interest rate of 6 percent with semiannual compounding. Which of the following statements is most correct? (Points : 2)

An investment opportunity promises a stated interest rate of 6 percent with semiannual compounding. Which of the following statements is most correct? (Points : 2)

A. The periodic rate is greater than 3 percent. B. The periodic rate is less than 3 percent. C. The effective annual rate is less than 6 percent. D. The effective annual rate is greater than 6 percent. E. The effective annual rate is 6 percent.

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