L will receive annual payments of 77000 for the next 18, Accounting Basics

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L will receive annual payments of 77000 for the next 18

Problem

I am planning to retire in 20 years. I wishes to deposit a regular amount every three in months until I retire, so that, beginning one year following my retirement, l will receive annual payments of $77,000 for the next 18 years. How much must l deposit if the interest rate is 7% compounded quarterly?

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Accounting Basics: L will receive annual payments of 77000 for the next 18

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Accounting Basics: L will receive annual payments of 77000 for the next 18

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