Which of the following one-year 51,000 bank loans offers the lowest effective annual rate? a. A loan with an APR of 65%, compounded monthly b. A loan with an APR of 6,5%, compounded annually, with a compensating balance requirement of 9.8% (on which no interest is paid) c. A loan with an APR of 6.5%, compounded annually, with a 0 97% loan origination fee. a. A loan with an APR of 6.5%, compounded monthly The EAR for the loan in this case is % (Round to one decimal place) b. A loan with an APR of 6.5%, compounded annually with a compensating balance requirement of 9.8% (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 6.5% compounded annually, with a 0.97% 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 (c) is the cheapest OC. The loan in part(a) is the cheapest OD. The three loans are equivalent