Shawn wishes to have $150,000 in his retirement account in 20 years' time. In the last 10 years, Shawn estimates that he will be contributing $800 per quarter at the beginning of each period. Over the first 10 years, he will be contributing $150 per month at the start of each month. If the rate of interest is 4.4% compounded quarterly over the 20 year period, determine the initial deposit that Shawn needs to make to achieve his retirement goal.

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The Answer of Shawn wishes to have $150,000 in his retirement account in 20 years' time. In the last 10 years, Shawn estimates that he will be contributing $800 per quarter at the beginning of each period. Over the first 10 years, he will be contributing $150 per month at the start of each month. If the rate of interest is 4.4% compounded quarterly over the 20 year period, determine the initial deposit that Shawn needs to make to achieve his retirement goal.

Shawn Wishes to Have $150,000 in His Retirement Account in 20