Problem #6: A lender providing a loan of $6.5 million requires semi-annual payment of interest at a nominal rate of 6.6% per year, and repayment of the $6.5 million principal at the end of 14 years. The borrower plans to accumulate that principal for repayment at the end of 14 years using level semi-annual deposits into a sinking fund that earns interest at a nominal rate of 3.8% per year when compounded semiannually. What is the borrower's total cash outlay every 6 months? Problem #6: Answer correct to 2 decimals. Just Save Submit Problem #6 for Grading Attempt #1 Attempt #2 Attempt #3 Attempt #4 Attempt #5 Problem #6 Your Answer: Your Mark