45. When you retire 25 years from now, you want to have accumulated enough wealth to withdraw $30,000 per year for 10 years after retirement (beginning-of-year) and to leave $100,000 for your children at the end of that 10-year period. You plan to spend your second year of retirement abroad, so you will need to withdraw an additional $25,000 from your account at the beginning of that year. Because you have just won the state lottery, you can make a lump sum deposit of $20,000 today to begin saving for your retirement years. You plan to save the additional money needed by making equal quarterly payments into a savings account (end-of period). However, since you are still in college, you cannot begin making the quarterly payments until you graduate two years from now. The first payment will be made one quarter after you graduate and the last payment will occur on your retirement date. All of your funds will be deposited into a savings account earning 8 percent compounded quarterly (this rate will be earned during your retirement years also). Determine the quarterly payments needed to achieve your financial goals. $536.42