Which of the following statements is CORRECT? O a. An investment that has a nominal rate of 8% with semiannual payments will have an effective rate that is no less than 8%. O b. The proportion of the payment that goes toward interest on a fully amortized loan increases over time. Oc. The present value of a 5-year, $250 ordinary annuity will exceed the present value of a 5-year, $250 annuity due. O d. If a loan or investment has annual payments with annual interest compounding, then the effective, periodic, and nominal rates of interest will all be different