The Lee family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 5.4% interest, compounded quarterly. Payments will be made at the end of each quarter. How...

Extracted text: The Lee family wants to save money to travel the world. They plan to invest in an ordinary annuity that earns 5.4% interest, compounded quarterly. Payments will be made at the end of each quarter. How much money do they need to pay into the annuity each quarter for the annuity to have a total value of $14,000 after 11 years? Do not round intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the list of financial formulas.