Which of the following statements is corrects?

If a loan has a nominal annual rate of 8%, then the effective rate will be less than 8%

An in vestment that has a nominal rate of 6% with semiannual payments will have an effective rate that is smaller than 6%

the present value id greater than the future value

the proportion of the payment that goes toward interest on a fully amortized loan increases over time

the present value of a 3 year,$150 ordinary annuity will be lower than the present value of a 3 year,$150 annuity due.