Corey has $50,000 deposited in an account earning 6.2% compounded monthly. He plans to withdraw $2,000 per month for two years. Afterwards, he plans to replenish his account by contributing $3,000 per quarter to bring his investment back to the original $50,000. Determine how many payments will be needed for the quarterly payments.

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Corey withdraws $2,000 per month for 24 months, reducing the account balance. After two years, he starts contributing $3,000 quarterly. Using the future value of an annuity formula and considering the interest rate, it takes 13 quarterly payments to bring the account back to $50,000.

Corey Has $50,000 Deposited in an Account Earning 6