You are planning to retire in 10 years. You plan to deposit money at 8% compounded quarterly. What equal
amount of deposit must you make at the end of each quarter until your retirement so that you can make a
withdrawal of $45,000 semiannually over five years after your retirement? Assume that the first withdrawal
occurs at the end of six months after your retirement.

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The Answer of You are planning to retire in 10 years. You plan to deposit money at 8% compounded quarterly. What equal
amount of deposit must you make at the end of each quarter until your retirement so that you can make a
withdrawal of $45,000 semiannually over five years after your retirement? Assume that the first withdrawal
occurs at the end of six months after your retirement.

You Are Planning to Retire in 10 Years