You as CEO of Land-Tech have agreed to set some money aside for your employees to help them in their retirement. The plan will be cost-shared between you and your employees. You have found a long-term account that will pay 8 APR compounded quarterly. How much should be deposited each quarter (the total amount shared between you and your employee – Rob Robertson) so that Rob (who will retire in 15 years) can withdrawal $25,000 every six months for the first 5 years after he retires. His first withdrawal will be 6 months after he retires
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