Remaining Time: 49 minutes, 51 seconds. Question Completion Status: Moving to the next question prevents changes to this answer. Question 4 Which one of the following statements is correct? The EAR is always greater than the APR. The APR on a monthly loan is equal to (1 + monthly interest rate)12. 1. The APR is the best measure of the actual rate you are paying on a loan. The EAR, rather than the APR, should be used to compare both investment and loan options. The APR is equal to the EAR for a loan that charges interest monthly. C OE Moving to the next question prevents changes to this answer %