Given the importance of timely retirement$-$planning, an insurance company offers the following insurance policy to parents of new$-$born children: The parents make the following payments:

First birthday: $1,300$

Second birthday: $1,300$

Third birthday: $1,300$

Fourth birthday: $1,200$

Fifth birthday: $2,500$

Sixth birthday: $2,500$

No more payments are made thereafter. When the child reaches the age of $65,$ he or she receives a lump$-$sum payment of $105,000.$ If the interest rate is $4\%$ is the policy worth buying?