(Answered) The perez family wants to save money to travel the world

Statistics

The Perez family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 4.2% interest, compounded quarterly. Payments will be made at the end of each quarter.

How much money do they need to pay into the annuity each quarter for the annuity to have a total value of $13,000 after 10 years?

Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.

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