Jessica has a student loan balance of $9,450. The interest rate on the student loan is 4.5% compounded monthly. She began servicing the loan and makes payments of $245 per month on the first of each month. Which of these statements best describes what we know about Jessicas loan? Question 8 options: The loan is an example of revolving credit The effective annual rate on the loan is 4.41% The terms on student loan repayments disallow for early prepayment The loan will be paid in 42 months