Answer:
Only statement III is false. The other two statements are true.
Step-by-step explanation:
EAR (Expected Annual Return) represents the expected return on an investment over the course of a year, while APR (Annual Percentage Rate) represents the annual rate charged for borrowing or earned through an investment.
The EAR can never exceed the APR because if it did, it would mean that the investment is earning more than the interest rate charged for borrowing, which is not possible.
Similarly, the APR can never exceed the EAR because if it did, it would mean that the interest rate charged for borrowing is more than the return on the investment, which is also not possible.
However, the APR and EAR can be equal if the investment or borrowing has no fees or other costs associated with it