Conway's Roofing Services is offered a $1 million line of credit for three months at an APR of 8%. The bank requires that the firm keep an amount equal to 12% of the loan principal in a non-interest-earning account with the bank as long as the loan remains outstanding. What is the actual three-month interest rate paid, expressed as an EAR? OLUN OA. 9.41% OB. 60.30% C. 24.40% OD. 31.45% O E. 80.40%