(Annuity payments)To pay for yourchild's education, you wish to have accumulated $13,000 at the end of 14 years. To dothis, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay 11 percent compoundedannually, how much must you deposit each year to obtain yourgoal?

The amount of money you must deposit each year in order to obtain your goal is $ . (Round to the nearestcent.)