A family wants to have a $200,000 college fund for their children at the end of 20

Question:

A family wants to have a $200,000 college fund for their children at the end of 20 years. What contribution must be made at the end of each quarter if their investment pays 7.6%, compounded quarterly?
(a) State whether the problem relates to an ordinary or an due, and then
(b) Solve the problem.
Annuity
An annuity is a series of equal payment made at equal intervals during a period of time. In other words annuity is a contract between insurer and insurance company in which insurer make a lump-sum payment or a series of payment and, in return,...