I NEED HELP UNDERSTANDING THIS, PLEASE EXPLAIN AS EASILY AS POSSIBLE. Find the periodic payments $PMT$ necessary to accumulate the given amount in an annuity account. $($Assume end$-$of$-$period deposits

and compounding at the same intervals as deposits. Round your answer to the nearest cent.$)$

$$70,000$ in a fund paying $5\%$ per year, with quarterly payments for $20$ years

$PMT=$$