Use spreadsheet functions to solve the following:

Chase and Nate are careful planners and want to send their daughter to university. To pay for this they will contribute equal monthly payments to an account bearing interest at an annual rate of 4.8%, compounded monthly. They will make these payments for 12 years. Five years after their last contribution, they will begin the first of 60 monthly withdrawals of $2,200 to pay the university's installment bills. How large must their monthly contributions be?

Answer = $ (Round to the nearest cent/penny.)

Hint: (1 of 3): You will need to first figure out how much they need in the account with the PV function. Another hint will appear if you get your next attempt incorrect.