Which of the following one-year, 51,000 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 59%, compounded annually, with a compensating balance requirement of 103% (on which no interest is paid) c. A loan with an APR of 59% compounded annually, with a 1.04% loan origination fee a. A loan with an APR of 59%, compounded monthly The EAR for the loan in this cane in 61% (Round to one decimal place.) b. A loan with an APR of 5.9% compounded annually, with a compensating balance requirement of 103% (on which no interest is paid)