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A couple wants to enroll a master yoga class 14 years later, after they earn their retirement. Their plan is to make deposits to a
A couple wants to enroll a master yoga class 14 years later, after they earn their retirement. Their plan is to make deposits to a bank every quarter for 13 years with 8% compounded monthly. First withdrawal of the monet to be spent for the yoga class will be at 14th year and the payment will be made for the next 4 years until 18h year . Master yoga class expenses are estimated to be 3000 dollars yearly in today's dollars. Find the amount of uarterly deposits in actual dollars. Currently, the inflation rate is estimated as 10% yearly.
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