$4,750 is paid at the end of every six months for 4.5 years. If the interest rate is 8.5% compounded semi-annually, what is the periodic interest rate; how many payments are made, and what is the total amount of the payments?

a.

i = 8.50%; n = 9; $42,750

b.

i = 4.25%; n = 9; $42,750

c.

i = 16.50%; n = 9; $42,750

d.

i = 2.125%; n = 9; $42,750

e.

i = 4.25%; n = 9; $21,375