A self employed individual, Jimmy Carpenter, is opening a retirement account at a bank. His goal is to accumulate P2872107 in the account by the time he retires from work in 20 years. A local bank is willing to open a retirement account that pays 10% interest compounded semiannually, throughout the 20 years. He wishes to start with a deposit at the end of the end of 1st semiannual and increase the deposit by 5% per semiannual thereafter. What should be the size of his first semiannual deposit? Note: Draw the cash flow diagram and use interest rate with five decimal places. Box your final answer and upload the picture of your solution. Round your answer to 2 decimal places.