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The Scott family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 4.8% interest, compounded annually.

The Scott family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 4.8% interest, compounded annually. Payments will be made at the end of each year. How much money do they need to pay into the annuity each year for the annuity to have a total value of 13,000 after 10years?

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