To pay for your child's education, you wish to have accumulated

$13,000

at the end of

9

years. To do this, you plan to deposit an equal amount into the bank at the end of each year. If the bank is willing to pay

7

percent compounded annually, how much must you deposit each year to obtain your goal?

The amount of money you must deposit each year in order to obtain your goal is

$nothing.

(Round to the nearest cent.)