Suppose the periodic rate for one month is 0.5%. Is the equivalent periodic rate for six months

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Suppose the periodic rate for one month is 0.5%. Is the equivalent periodic rate for six months (pick one):
(i) Equal to 6(0.5%) = 3%?
(ii) Less than 3%?
(iii) Greater than 3%? Answer the question without doing calculations. Explain your choice.
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