Alex and PengPeng are married and in their late 40s. They have two children (4 and 7 years old,

respectively) and are currently living in Perak. Alex was recently promoted as a manager of a large

pharmaceutical firm and was required to transfer to the headquarters located in Kuala Lumpur.

PengPeng is a full-time housewife. Alex earns RM100,000 per year and they live well within their

means.

Alex and PengPeng want to accumulate RM600,000 in their bank account 15 years from now

for their children's education.

If they can earn an interest of 8% per annum on the investment, calculate how much they should

deposit at the end of each quarter to achieve their goal. (7 marks)