A bank offers personal loans at 10.0%p.a compounding monthly. The effective annual rate of interest (EAR) is (to the nearest two decimal places): Select one: a. 10.47% b.10.25% C. 10.38% d. 0.83% Jack wants to buy a boat today today but has realised that if he takes out a loan he can only repay $1000 qua..crly, with payments made at the beginning of each quarter, over the next 11 years. How much can he spend on his boat today if the interest rate is 10.9% per annum compounded quarterly Select one: a. $26147.86 b. $25454.23 c. $6914.01 d. $6234.45