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James has a 5.5 year loan of $75,000 with ANZ Bank. He plans to repay the loan in 11 equal semi-annual instalments starting today. If

James has a 5.5 year loan of $75,000 with ANZ Bank. He plans to repay the loan in 11 equal semi-annual instalments starting today. If the rate of interest is 5.8% p.a. compounding semi-annually, how much will each repayment be worth? Select one:

a. $7,911.65

b. $7,833.80

c. $8,060.98

d. $7,720.31

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