$(1$ point$)($Exercise $3\mathrm{.}18)$ Deposits of $$1500$ are placed into a fund at the beginning of each year for the next $22$ years. After $35$ years

annual payments commence and continue forever, with the first payment at the end of the $35$ th year. Find the amount of each payment

if the effective rate of interest is $9\mathrm{.}7\%.$

ANSWER $=$ $