Present and future value tables of $1 at 3% are presented below: N FV $1 PV $1 FVA $1 PVA $1 FVAD $1 PVAD $1 1 1.03000 0.97087 1.0000 0.97087 1.0300 1.00000 2345 1.06090 0.94260 2.0300 1.91347 2.0909 1.97087 1.09273 0.91514 3.0909 2.82861 3.1836 2.91347 6 1.12551 0.88849 5 1.15927 0.86261 1.19405 0.83748 7 1.22987 0.81309 8 1.26677 0.78941 9 1.30477 0.76642 10 1.34392 0.74409 11 1.38423 0.72242 12 1.42576 0.70138 13 1.46853 0.68095 14 1.51259 0.66112 15 1.55797 0.64186 18.5989 11.93794 16 1.60471 0.62317 4.1836 3.71710 4.3091 3.82861 5.3091 4.57971 5.4684 4.71710 6.4684 5.41719 6.6625 5.57971 7.6625 6.23028 7.8923 6.41719 8.8923 7.01969 9.1591 7.23028 10.1591 7.78611 10.4639 8.01969 11.4639 8.53020 11.8078 8.78611 12.8078 9.25262 14.1920 9.95400 15.6178 10.63496 17.0863 11.29607 13.1920 9.53020 14.6178 10.25262 16.0863 10.95400 17.5989 11.63496 20.1569 12.56110 19.1569 12.29607 20.7616 12.93794 Micro Brewery borrows $250,000 to be repaid in equal installments over a period of six years. The loan payments are semiannual with the first payment due in six months, and interest is at 6%. What is the amount of each payment?