Question 31 0.6 pts You need to borrow some money and you are looking for a bank with low rate. The National Bank offers personal loans at 8% APR, compounded monthly. The Global Bank offers similar personal loans at 8.25% APR, compounded quarterly, Which one of the following statements is correct? The National Bank has an EAR of 6.94%, choose National. The National Bank has an EAR of 8.30%, choose National. The National Bank's EAR is higher than the Global bank's APR, choose Global. The Global Bank has an EAR of 8.51%, choose Global.