Problem #3: Suppose you borrow $1701 from the bank and that this loan requires semiannual payments of interest in addition [3 marks] to repayment of the principal in 27 years. Suppose also that you intend to accumulate the principal for repayment in 27 years through level semiannual deposits into a sinking fund earning interest at a nominal annual rate of 7% compounded semiannually. If your total cash outlay per semiannual period is $4405 then determine the semiannual interest payment. (A) 4427.99 (B) 4444.99 (C) 4393.99 (D) 4376.99 (E) 4410.99 Problem #3: Select v Save