Question 5 (1 point) Which of the following statements is TRUE? With a given EAR, the more frequent the compounding, the higher the APR. The APR can be calculated using the EAR rate and the number of compounding periods per year. Regardless of the compounding periods per year, the EAR will be greater than the APR. If cash flows occur on a monthly basis, the EAR using the monthly periodic rate will be used in time value of money calculations