Fraser deposits $790.00 at the beginning of every three months. He wants to build up his account so that he can withdraw $1550.00 every three months starting three months after the last deposit. If he wants to make the withdrawals for 16 years and interest is 6.64% compounded quarterly, for how long must Fraser make the quarterly deposits?

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The Answer of Fraser deposits $790.00 at the beginning of every three months. He wants to build up his account so that he can withdraw $1550.00 every three months starting three months after the last deposit. If he wants to make the withdrawals for 16 years and interest is 6.64% compounded quarterly, for how long must Fraser make the quarterly deposits?

Fraser Deposits $790