Supposing you are responsible for setting the Effective Annual Rates (EAR) on all loans for a bank in Worcester MA, You have decided that all loans given to people with Credit Score between 500 and 600 should be charged an EAR of 18%. A customer with Credit Score of 540 wants to borrow $200,000 to buy a Condo. The Truth in Lending Act of 1968 AKA Regulation Z requires that cost of borrowing must be quoted in Annual Percentage Rate (APR). According to your calculations, this APR rate is:

	a.	16.72%
	b.	14.99%
	c.	18.00%
	d.	15.95%
	e.	16.56%
	f.	15.99%