Part A. You would like to fund an account that will cover the expected future tuition costs for your niece. You estimate that you need to have $150,000 in the account exactly 4 years from today. Your account will earn an APR of 8% per year on the invested funds, compounded quarterly. How much would you need to invest in a lump sum today in order to have $150,000 in the account in 4 years?

Part B. Instead of the lump sum, you want to make equal quarterly payments into an account starting 3 months from today with the last payment occurring 4 years from today (16 total payments). How much do you need to contribute each quarter starting one quarter from today?