A small foundry agrees to pay $200,000 two years from now to a supplier for a given amount of coking coal. The foundry plans to deposit a fixed amount in a bank account every three months, starting three months from now, so that at the end of two years the account holds $200,000. If the account pays 5.2% APR compounded monthly, how much must be deposited every three months?
A detailed explanation would be much appreciated.