Their yearly contributions must be $3489.65
FV = P * [(1 + r)^n - 1] / r
Where:
FV is the future value of the annuity,
P is the annual contribution amount,
r is the annual interest rate (expressed as a decimal), and
n is the number of periods (in this case, 10 years).
$54,300 = P * [(1 + 0.095)^10 - 1] / 0.095
P = $54,300 * 0.095 / [(1 + 0.095)^10 - 1]
P ≈ $3489.65
