You started a small business and decide to buy a piece of equipment that costs $35,000. You will take out a small business loan from the SBA (think of it as a bank) at a 1.5% nominal rate compounded semi-annually for 60 months. Your business can only afford to repay $5,000 each year at the end of the year. However, the SBA has a program to help struggling small business owners like you. You could pay off the rest of the loan in a one time lump sum payment at the end of the loan. How much is the lump sum payment? Please show work

A. 8,494

B. 18,154

C. 22,072

D. 11,951