Clearly STATE which of the following five choice(s) is/are CORRECT and which are INCORRECT? If a statement is incorrect, you must explain why . Assume positive interest rates and other things held constant. a. An annuity that makes 5 payments of $250 each, with the first payment starting today, has a lower present value than that of a similar annuity (5 payments of $250 each) that makes its first payment one year from today. b. A 30-year, $150,000 amortized mortgage will have larger monthly payments than an otherwise similar 20-year mortgage. c. A typical investment's nominal (simple) annual interest rate will always be equal to or less than its effective annual rate. d. If an investment pays 10% nominal annual rate, compounded annually, its effective annual rate will be greater than 10%. e. Banks A and B offer the same nominal annual rate of interest, but A pays interest quarterly and B pays semiannually. Deposits in Bank B will have the higher future value if you leave the funds on deposit.