Question $2$

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A loan of R$15080,00$ is being repaid by $14$ half$-$yearly payments, with the first payment made one half year after the loan is taken out. The interest rate is $9\%$ per year, compounded half$-$yearly. The size of each of the half$-$yearly payments is R$1475,13.$ This is represented by the follnwina timeline.

After four years the interest rate drops to $8,5\%$ per year, compounded half$-$yearly. The size of the new half$-$yearly payments, rounded to the nearest rand, is

Select one:

a$.$ R$1451,00.$

b$.$ R$1463,00.$

c$.$ R$1142,00.$

d$.$ R$1871,00.$