Which of the following statements are true?

I. The EAR should be used to compare alternative investments with different compounding periods.

II$.$ The APR or nominal rate is the annual rate required to be quoted in legally binding contracts.

III. The EAR is equal to the APR after multiplying by $\frac{C}{Y}$ or compounding periods per year.

IV$.$ The EAR and the APR are always expressed as if they were compounded semi$-$annually.

A$.$ I, II$,$ III & IV$.$

B$.$ III & IV only.

C$.$ I, II & IV only.

D$.$ IV only.

E$.$ I & II only.