How much would you have to pay into an account at the beginning of every six months to accumulate $12600 in 8 years, if interest is 4% compounded annually? The payment would have to be $____

Financial Accounting Intro Concepts Meth/Uses
14th Edition
ISBN:9781285595047
Author:Weil
Publisher:Weil
ChapterA: Appendix - Time Value Of Cash Flows: Compound Interest Concepts And Applications
Section: Chapter Questions
Problem 12E
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How much would you have to pay into an account at the beginning of every six months to accumulate $12600 in 8 years, if interest is 4% compounded annually? The payment would have to be $____
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