The answer is $3,112.16

I would like to know what mode(bgn or end), N, i/y, PV, FV.

(Total 5 marks) Dr. Pollard donated $100,000 to the Canadian National Institute for the Blind. The money is to be used to make semiannual payments in perpetuity to finance the recording of books-on-CD for the blind. The first perpetuity payment is to be made five years from the date of the donation. If the funds are invested at 5% compounded semiannually, what will be the size of the payments? ( 2 decimals) (Hint: answer is NOT $3,200.21