Question: 13. Paul has a variable rate mortgage with NAB costing 3.5% per annum. If the RBA decreases the official cash rate by 50 basis points,

13. Paul has a variable rate mortgage with NAB costing 3.5% per annum. If the RBA decreases the official cash rate by 50 basis points, what is the most likely shift in cost of Paul's home loan?

Select one:

a. 3%

b. 4%

c. 4.3%

d. 3.48%

e. 3.3%

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