Lease payments of $450 per month on a car costing $37,000 are advertised by a dealer. The lease is for 4 years, requires a down payment of $5000 and has a residual value of $14,000 at the end of the lease.What rate of interest compounded semi-annually is built into the lease?

Question 4 options:

A)3.84%

B)3.95%

C)3.92%

D)3.87%