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If the quoted interest rate on a mortgage loan is 7.5% per year CSA (compounded semi-annually) and the mortgage is to be repaid by way

If the quoted interest rate on a mortgage loan is 7.5% per year CSA (compounded semi-annually) and the mortgage is to be repaid by way of equal monthly instalments, what is the appropriate period rate for one month?

a. About .5229%

b. About .8000%

c. About .6155%

d. About 1.000%

e. None of the above

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