Roland borrows money from his friend Gerhard to open the Kick and Swim Boutique. He realises that he will not be able to repay anything for the first five years. Thereafter he is prepared to pay back R40 000 every six months for seven years. Money is worth 9,56% per year, compounded half-yearly. The amount of money that Gerhard lends to Roland to open the Kick and Swim Boutique equals
a.
R191 347,80.
b.
R162 379,02.
c.
R251 757,24.
d.
R401 574,30.