An annuity with a cash value of ​$15,500 earns 5​% compounded​ semi-annually. End-of-period​ semi-annual payments are deferred for six ​years, and then continue for eight years. How much is the amount of each​ payment?
Each payment is ​$ .......
​(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as​ needed.)