He late expressed W01, U Previous Next ce, Skype- C The State Interest Rate is The Options - Finance Calculator mework - 3 attempts Wilfridah Okeyo: Attempt 2 View hint for Question 9 Question 10 (0.2 points) Which one of the following statements is correct? 1) The APR is equal to the EAR for a loan that charges interest monthly. O 2) The APR is the best measure of the actual rate you are paying on a loan. 3) The EAR, rather than the APR, should be used to compare both investment and loan options. 4) The EAR is always greater than the APR. 5) The APR on a monthly loan is equal to (1 + monthly interest rate)12 - 1. 3