If the APR is 16% with quarterly compounding, what are the nominal and effective quarterly, semi-annual and annual rates? The nominal quarterly rate is %, (Round to one decimal place.) and the effective quarterly rate is %. (Round to one decimal place.) The nominal semi-annual rate is %, (Round to one decimal place.) and the effective semi-annual rate is %. (Round to three decimal places.) The nominal annual rate is %, (Round to one decimal place.) and the effective annual rate is %. (Round to three decimal places.) Based on your answers, which of the following is correct about nominal versus effective interest rates? A. There's no pattern - nominal rates might be greater or less than effective rates. B. The effective rate is always greater than the nominal rate. C. The effective rate is always less than the nominal rate. D. The effective rate is usually strictly greater than the nominal rate, but not always (more specifically, not with only one compounding per period). E. The effective rate is usually the same as the nominal rate