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Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $115 into a trust fund every three months until Robin was twenty-one
Starting three months after her grandson Robin's birth, Mrs. Devine made deposits of $115 into a trust fund every three months until Robin was twenty-one years old. The trust funds provides for equal withdrawals at the end of each quarter for four years, beginning three months after the last deposit. If interest is 4.62% compounded quarterly, how much will Robin receive every three months? Robin will receive $ _____ (Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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