Mr. Clark makes a deposit at the beginning of every three months into a savings account that earns interest at 6.2% compounded quarterly. He saves for eight years, then converts his savings into an annuity that pays him $750 at the beginning of every three months for eleven years. What is the size of the deposit he makes while he is saving?

The size of the deposit is $__ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Please answer with steps involved for calculation

Mr. Clark makes a deposit at the beginning of every three months into a savings account that earns interest at 6.2% compounded quarterly. He saves for eight years, then converts his savings into an annuity that pays him $750 at the beginning of every three months for eleven years. What is the size of the deposit he makes while he is saving? The size of the deposit is $ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)