Which of the following statements are correct?

I. APR is annualized interest rate and therefore incorporates the compounding.

II. EAR is annualized interest rate incorporating the compounding.

III. When the interest rate is yearly compounding, APR= EAR

IV. When the interest rate is daily compounding, EAR= daily interest rate*365

Select one:

a. III and IV

b. I, II and III

c. II and III

d. I, II, III, IV