Question: Find the periodic payment that will amount to the given sum under the following conditions. The desired sum is $400000. Payments are made at the

Find the periodic payment that will amount to the given sum under the following conditions.

The desired sum is $400000. Payments are made at the end of each semiannual period for 8 years. Interest is 4% per year compounded semiannually.

Express your answer to the nearest dollar e.g.5695845. Do not include the dollar sign in your answer.

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