A college education fund is to be accumulated by twenty level semi-annual deposits, the first due on Juanary 1, 1996. The fund is to provide 16 quarterly withdrawals of $ 1200 each, the first due on October 1, 2005. Interest is compounded semiannually at an annual rate of 10 %. What is the amount of each semi-annual deposit?


Amount of each semi-annual deposit = $?