D is the three loans are equivalent.

Which of the following one-year, $1,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 5.7%, compounded monthly. b. A loan with an APR of 5.7%, compounded annually, with a compensating balance requirement of 10.3% (on which no interest is paid). c. A loan with an APR of 5.7%, compounded annually, with a 1.02% loan origination fee. a. A loan with an APR of 5.7%, compounded monthly. The EAR for the loan in this case is %. (Round to one decimal place.) b. A loan with an APR of 5.7%, compounded annually, with a compensating balance requirement of 10.3% (on which no interest is paid). The EAR for the loan in this case is %. (Round to one decimal place.) c. A loan with an APR of 5.7%, compounded annually, with a 1.02% loan origination fee. The EAR for the loan in this case is %. (Round to one decimal place.) Which bank loan offers the lowest effective annual rate? (Select the best choice below.) O A. The loan in part (c) is the cheapest. OB. The loan in part (b) is the cheapest. O C. The loan in part (a) is the cheapest. Which of the following one-year, $1,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 5.7%, compounded monthly. b. A loan with an APR of 5.7%, compounded annually, with a compensating balance requirement of 10.3% (on which no interest is paid). c. A loan with an APR of 5.7%, compounded annually, with a 1.02% loan origination fee. a. A loan with an APR of 5.7%, compounded monthly. The EAR for the loan in this case is %. (Round to one decimal place.) b. A loan with an APR of 5.7%, compounded annually, with a compensating balance requirement of 10.3% (on which no interest is paid). The EAR for the loan in this case is %. (Round to one decimal place.) c. A loan with an APR of 5.7%, compounded annually, with a 1.02% loan origination fee. The EAR for the loan in this case is %. (Round to one decimal place.) Which bank loan offers the lowest effective annual rate? (Select the best choice below.) O A. The loan in part (c) is the cheapest. OB. The loan in part (b) is the cheapest. O C. The loan in part (a) is the cheapest