Question: A contract can be fulfilled by making an immediate payment of $11,600 or equal payments at the end of every six months for 8 years.

A contract can be fulfilled by making an immediate payment of $11,600 or equal payments at the end of every six months for 8 years. What is the size Of the semi-annually payments at 5.0% compounded semi-annuallv The payment is Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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