Sands Corp, sells $$220,000$ of bonds to private investors. The bonds have a $5\%$ coupon rate and interest is paid semignnually. The bonds were sold to yield $8\%.$

What periodic interest payment does Pinto make to its investors?

$$ $$5,500$

$$ $$9,600$

$$ $$2,900$

$$ $$4,800$