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The future value of a lump sum at the end of five years is $1,000. The nominal interest rate is 10 percent and interest is compounded semiannually. Which of the following statements is most correct? Seiect one: a. The present vaive of the $1,000 is greater if interest is compounded monthly rather than semiannuatly. b. The effective annuat rate is greater than 10 percent. c. The periodic interest rate is 5 percent. d. Statements b and c are correct. 2. Alt of the statements above are correct