Answer

The payment for the annuity due with a future value of $21,000 quarterly payments for 13 years and an interest rate of 6.6% is $1,750.52.

Calculating the Payment Amount

The formula for the annuity due payment is: PV = FV*[(1+i)n-1]/[i*(1+i)n], where PV is the present value (i.e. payment amount), FV is the future value, i is the interest rate, and n is the number of periods.

Inserting Values into the Formula

Inserting the values provided into the formula, we get: $1,750.52 = 21,000*[(1+0.066)13-1]/[0.066*(1+0.066)13]

Rounding the Answer

The answer is then rounded to the nearest cent: $1,750.52

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