Which of the following one-year. $1,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 6%, compounded monthly. Answer: The EAR for the loan in this case is %. (Round to two decimal places.) b. A loan with an APR of 6%, compounded annually, with a compensating balance requirement of 10% (on which no interest is paid). Answer: The EAR for the loan in this case is %. (Round to two decimal places.) c. A loan with an APR of 6%, compounded annually, with a 1% loan origination fee. > Answer: The EAR for the loan in this case is %. (Round to two decimal places.) Answer: The loan in part (answer"a", "b", or "c") is the cheapest