Thermal Systems, a company that specializes in odor control for wastewater treatment plants, made deposits of $100,000 now and $25,000 every 6 months for two years. Determine the future worth after 2 years of the deposits for i =16% per year, compounded bi-monthly (compounded once in two months).

Please Explain each step. Right answer Should be 249776.32 (found it on here, but couldnt follow steps)