Correct and explain

How many of the following statements are correct? The stated annual interest rate is a quoted interest rate that does not account for compounding within the year. The periodic rate is the quoted interest rate per period; it equals the stated annual interest rate divided by the number of compounding periods per year. The effective annual rate is the amount by which a unit of currency will grow in a year with interest on interest included None are correct. Just 1 statement is correct Just 2 statement are correct. All statements are correct