The town of Mount Hope is financing a $$5\mathrm{.}4$ million upgrade to its water system though the province's

Municipal Finance Authority $($MFA$).$ The MFA obtained financing via a bond issue with interest at $5\mathrm{.}7\%$

compounded semi$-$annually. At the end of every $6$ months, the town is to make equal payments into a

sinking fund administered by the MFA so that the necessary funds will be available to repay the $$5\mathrm{.}4$ million

bond when it matures in $20$ years. The sinking fund earns $4\%$ compounded semi$-$annually.

a$.$ Determine the semi$-$annual interest payments made to the bond holders.

b$.$ determine the amount of sinking fund payments

c$.$ determine the semiannual expense of the debt to the town of mount hope