Which of the following one-year, $1,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 5.9%, compounded monthly. b. A loan with an APR of 5.9%, compounded annually, with a compensating balance requirement of 10.3% (on which no interest is paid). c. A loan with an APR of 5.9%, compounded annually, with a 0.99% loan origination fee. a. A loan with an APR of 5.9%, compounded monthly. The EAR for the loan in this case is [%. (Round to one decimal place.) b. A loan with an APR of 5.9%, compounded annually, with a compensating balance requirement of 10.3% (on which no interest is paid). The EAR for the loan in this case is %. (Round to one decimal place.) c. A loan with an APR of 5.9%, compounded annually, with a 0.99% loan origination fee. The EAR for the loan in this case is %. (Round to one decimal place.) Which bank loan offers the lowest effective annual rate? (Select the best choice below.) A. The loan in part (c) is the cheapest. B. The loan in part (b) is the cheapest. C. The loan in part (a) is the cheapest. D. The three loans are equivalent