A contract can be fulfilled by making an immediate payment of $12,500 or equal payments at the end of every six months for 8 years. What is the size of the semi-annually payments at 5.4% compounded semi-annually?

The payment is $__

Round to nearest cent.

A contract can be fulfilled by making an immediate payment of $12,500 or equal payments at the end of every six The payment is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as nee