Use the accompanying sinking fund formula to determine the payment needed to reach the accumulated amount.

Semiannual payments with $9\%$ interest are compounded semiannually for $8$ years to accumulate $$11,000.$

$p=\frac{A(\frac{r}{n})}{(1+\frac{r}{n}{)}^{nt}-1}$

The semiannual invested payment is $

$($Do not round until the final answer. Then round up to the nearest cent.$)$