You want to calculate what sum of money can be withdrawn from a fund of $46 950.00 invested at 6.5% compounded semi-annually at the end of every three months for twelve years? Find p (the equivalent rate of Interest per payment period)

Select one:

a. 0.0828567

b. 0.029563014

c. 0.0263716

d. 0.0161201

e. 0.022669172