Corporate Finance Chris Evans & I 12/09/21 11:08 AM = Homework: Chaps 26 & 27 Homework Question 4, B27-9 (book... Part 1 of 4 HW Score: 26.67%, 1.33 of 5 points O Points: 0 of 1 Save Which of the following one-year $1,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 5.6%, compounded monthly b. A loan with an APR of 5.6%, compounded annually, that also has a compensating balance requirement of 10.3% (on which no interest is paid). c. A loan with an APR of 5.6%, compounded annually, that has a 1.4% loan origination fee. ..... a. A loan with an APR of 5.6%, compounded monthly. (Select from the drop-down menus.) Since the APR is 5.6%, the monthly rate is This translates to an effective annual rate of