Problem #6: A lender providing a loan of $8.5 million requires semi- annual payment of interest at a nominal rate of 7.8% per year, and repayment of the $8.5 million principal at the end of 13 years. The borrower plans to accumulate that principal for repayment at the end of 13 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