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A house mortgage of $360 000 is amortized over 20 years by semi-monthly payments of $1222.62. What is the nominal annual rate of interest compounded

A house mortgage of $360 000 is amortized over 20 years by semi-monthly payments of $1222.62. What is the nominal annual rate of interest compounded semi-annually? Select one: a. 6.21% b.5.42% c. 2.71% d. 3.62%

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