"A loan is offered with a $2\mathrm{.}0\%$ APR; Assuming monthly compounding, what is the loan's effective annual rate

$($EAR$)?"$

$2\mathrm{.}03\%$

$2\mathrm{.}01\%$

$2\mathrm{.}02\%$

$2\mathrm{.}00\%$