You have borrowed $25,000 at an annual interest rate (r) of 9% compounded monthly. Equal payment will be made every 6 months over a five-year period. (The first payment will be made at the end of the first quarter.) What will the semi-yearly payment be?

a) All of them

b) A=$25,000(A/P, 4.59%, 10)

c) A=$25,000(A/P, 9.38%, 5)

d) A=$25,000(A/P, 0.75%, 60)