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Jack has saved $225 at the end of every month in his bank account for 6 years with the rate of interest being 3.6% p.a.
Jack has saved $225 at the end of every month in his bank account for 6 years with the rate of interest being 3.6% p.a. compounding monthly, then he decided to go to school for 5 years when he could not contribute to his account. After his studies ended (at the end of the 5th year at school), he moved his balance to another account and started to withdraw equal amounts of money from his account at the end of every quarter for 10 years. Find the size of his quarterly withdrawals if interest has been 4% p.a. compounding quarterly.
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