A major property developer is concerned about lack of sales due to local economic conditions. To ensure that his condos are​ occupied, he offers a​ lease-to-purchase program in​ which, if people sign...

A major property developer is concerned about lack of sales due to local economic conditions. To ensure that his condos are​ occupied, he offers a​ lease-to-purchase program in​ which, if people sign a lease by the end of​ March, they will not have to start making payments until March of the following year. The purchase price of the condo is ​$186,000. Payments of ​$1132.03 will be required at the beginning of each month over a​ 25-year amortization period. If interest is 5.67​% compounded​ semi-annually during the first​ year, what is the​ semi-annually compounded interest rate during the payment​ period?

The interest rate during the payment period is enter your response here​ _ _% compounded​ semi-annually.

​(Round the final answer to two decimal places. Round all intermediate values to six decimal places as​ needed.)