Which of the following one-year, $1,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 5.7%, compounded monthly b. A loan with an APR of 5.7%, compounded annually, with a compensating balance requirement of 10.5% on which no interest is paid). c. A loan with an APR of 5.7%, compounded annually, with a 1.05% loan origination fee. a. A loan with an APR of 5.7%, compounded monthly The EAR for the loan in this case is %. (Round to one decimal place.) b. A loan with an APR of 5.7%, compounded annually, with a compensating balance requirement of 10.5% (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 5.7%, compounded annually, with a 1.05% 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.) O A. The loan in part (b) is the cheapest. OB. The loan in part (a) is the cheapest. O C. The loan in part (c) is the cheapest. OD. The three loans are equivalent