A credit union entered a lease contract valued at

$6300.

The contract provides for payments at the end of each quarter for

3

years. If interest is

5.3%

compounded

quarterly,

what is the size of the

quarterly

payment?

Question content area bottom

Part 1

The payment is

$enter your response here.

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)