The effective annual rate$($EAR$)$ for a loan with a stated APR of $12\%$ compounded quarterly is closest$$ to:

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Part $1$

A$.$

$16\mathrm{.}32\%$

B$.$

$13\mathrm{.}81\%$

C$.$

$12\mathrm{.}55\%$

D$.$

$15\mathrm{.}06\%$