Chrystal borrowed $1,000,000 from MQ Bank for one year at simple interest rate of 5.5% p.a. Unfortunately, she misread the documentation for the loan, and has misunderstood the interest charge. In fact, MQ Bank will charge her interest (in a single payment at the end of the loan) at a rate of 5.5% p.a., compounded half-yearly.

What additional amount will Chrystal have provide to repay the loan, due to this misunderstanding?

a. 0.00

b. 58025.00

c. 27500.00

d. 756.25