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After graduating from college with a bachelor of business administration, you begin an ambitious plan...

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Finance

After graduating from college with a bachelor of business administration, you begin an ambitious plan to retire in 22.00
years. To build up your retirement fund, you will make quarterly payments into a mutual fund that on average will pay
10.08% APR compounded quarterly. To get you started, a relative gives you a graduation gift of $3,711.00.
Once retired, you plan on moving your investment to a money market fund that will pay 6.12% APR with monthly
compounding. As a young retiree, you believe you will live for 28.00 more years and will make monthly withdrawals of
$10,163.00.(YOUR WITHDRAWALS ARE AT THE BEGINNING OF THE MONTH!!!!) To meet your retirement needs, what
quarterly payment should you make?
Answer format: Currency: Round to: 2 decimal places.
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