Suppose Chris plans to save for retirement over the next 16 years by making equal incremental savings payment at the end of each semiannual period beginning six months from today. When he retires, in 16 years, he will begin withdrawing $3,710 at the end of each semiannual period and anticipates that retirement will last for 32. How much will Chris need to save each semiannual period from now until year 16 to fund his retirement if the interest rate is 7.43%.

(Hint, this is a two step problem, 1) how much will he need to have saved to fund his retirement, 2) how much will he need to save to get there)