Your professor would like to retire in 15 years. He has an option to deposit money in a savings account, which is compounded quarterly at the interest rate of 10%.

How much money should be deposited in that account, at the end of every quarter, until he retires, in order for him to be able to withdraw $10000 semiannually, over the first 5 years of his retirement?

By the way, his first withdrawal will happen at the end of the sixth month after his retirement started.