Bertels Company buys a warehouse on account (taking oWhich of the following statements is CORRECT? If a loan has a nominal annual rate of 8%, then the effective rate can never be greater than 8%. The proportion of the payment that goes toward interest on a fully amortized loan increases over time. If a loan or investment has annual payments, then the effective, periodic, and nominal rates of interest will all be different. The present value of a 3-year, $150 annuity due will exceed the present value of a 3-year, $150 ordinary annuity. An investment that has a nominal rate of 6% with semiannual payments will have an effective rate that is smaller than 6%.ut a mortgage) for $300,000. The transaction to record the initial purchase of the warehouse will affect the income statement and owner's equity statement only. balance sheet only. income statement only. income statement, owner's equity statement, and balance sheet