Which of the following statements is incorrect? Select one: a. Other things equal, the higher the compounding frequency, the larger the effective annual rate. b. An investment's periodic interest rate will always be equal to or larger than its nominal interest rate. c. An investment's nominal interest rate will always be equal to or smaller than its effective annual rate. O d. Other things equal, the higher the compounding frequency, the smaller the periodic interest rate. e. If an investment pays 10 percent interest compounded annually, its effective rate will be equal to 10 percent