Shuggy Otis, an executive at Slapfish Corp. (SC) intends to retire in 11 years. SC just announced that it will

start depositing $500.00 at the end of each quarter into each of its workers' retirement fund. The first deposit will

occur one quarter from now; deposits for any worker will thencontinue until he or she retires. During the retirement

phase of life, Shuggy would like to withdraw $5,600 per quarter (at the end of each quarter) from his retirement account

for the following 19 years. Shuggy has $100,000 invested currently and can earn 4.8% APR with monthly compounding,

on all money invested (including that from Slapfish). How much must Shuggy put into the account at the

end of each quarter for the next 11 years in order to retire and then make the 76 withdrawals as planned? (Just to

be clear, the same interest rate applies across the entire 30year horizon..)