Drill Problem $13-8($Algo$)[$LU $13-3(1)]$ Using the sinking fund Table $13\mathrm{.}3,$ complete the following: Note: Do not round intermediate calculations. Round your answer to the nearest cent. $\backslash$begin$\{$tabular$\}\{|$c$|$c$|$c$|$l$|$c$|$c$|\}\backslash$hline $\backslash$begin$\{$tabular$\}\{$c$\}$ Required $\backslash \backslash$ amount $\backslash$end$\{$tabular$\}$ & $\backslash$begin$\{$tabular$\}\{$c$\}$ Frequency of $\backslash \backslash$ payment $\backslash$end$\{$tabular$\}$ & $\backslash$multicolumn$\{2\}\{|$c$|\}\{$ Length of time $\}$ & $\backslash$begin$\{$tabular$\}\{$c$\}$ Interest $\backslash \backslash$ rate $\backslash$end$\{$tabular$\}$ & $\backslash$begin$\{$tabular$\}\{$c$\}$ Payment amount $\backslash \backslash$ end of each $\backslash \backslash$ period $\backslash$end$\{$tabular$\}\backslash \backslash \backslash$hline$\backslash (\backslash$$ $\backslash$quad $24,800\backslash )$ & Quarterly & $6$ & years & $8$ & $\backslash (\backslash \%\backslash )\backslash$end$\{$tabular$\}$