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(2) = 5. [10 marks] The city of Waterloo borrows $1,000,000 to build a rink. They pay interest at 6%. The city will repay the debt in 10 years, that is it will pay off the original loan amount and the interest earned over the years in one payment at the end of 10 years. They decide to make semi-annual deposits into a sinking fund, which are made at the end of each half year. What semi-annual sinking fund deposit is needed if (a) [2 marks] the sinking fund earns interest at i(2) = 5%? (b) [2 marks] the sinking fund earns interest at i(2) = 6%? (C) [2 marks] the sinking fund earns interest at i(2) = 7%? (d) [4 marks] Suppose $1,000,000 is repaid with the amortization method with level semi- annual payments for 10 years, which are paid at the end of each half year. The interest rate is charged at i(2) = 6%. Find the semi-annual payment. Comparing the amortization payment and the sinking fund deposit, what do you observe