Kirk has a 4.5 year loan of $50,000 with St George Bank. He plans to repay the loan in 9 equal semi-annual instalments starting today. If the rate of interest is 8.4% p.a. compounding semi-annually, how much will each repayment be worth?

Select one:

a. $6,481.73

b. $6,352.98

c. $6,280.74

d. $6,104.08