A couple wishes to establish a college fund at a bank for their six-year-old child. The college fund will earn an 12% interest compounded semi- annually. Assuming that the child enters college at the age of 18, the couple estimates that an amount of TL110,000 per year in terms of today's Turkish Lira (TL at child's age of six), will be required to support the child's college expenses for four years. College expenses are estimated to increase at an annual rate of 10%. Determine the equal quarterly deposits the couple must make until they send their child to college. Assume that the first deposit will be made at the end of the first quarter and that deposit will continue until the child reaches the age of 17. The child will enter college at age 18 and the annual college expense will be paid at the beginning of each college year. In other words, the first withdrawal will be made when the child is 18. with End-of-Period Compounding