Please help me solve this. Please show every so I can understand. Question: A quinceañera fund is established by making four (4) identical deposits: Upon the birth of a baby girl, Upon the girl's 1st birthday, Upon the girl's 2nd birthday, and Upon the girl's 3rd birthday. Suppose that the fund that pays 4% interest compounded annually, and that the full balance of 10,527 dollars is withdrawn upon the girl's 15th birthday. How much is the amount of each deposit? Round your answer to the nearest whole number. Do not use currency signs s

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Chapter6: Saving And Investing
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Please help me solve this. Please show every so I can understand. Question: A quinceañera fund is established by making four (4) identical deposits: Upon the birth of a baby girl, Upon the girl's 1st birthday, Upon the girl's 2nd birthday, and Upon the girl's 3rd birthday. Suppose that the fund that pays 4% interest compounded annually, and that the full balance of 10,527 dollars is withdrawn upon the girl's 15th birthday. How much is the amount of each deposit? Round your answer to the nearest whole number. Do not use currency signs such as "$."
A quinceañera fund is established by making four (4) identical deposits:
. Upon the birth of a baby girl,
• Upon the girl's 1st birthday,
Upon the girl's 2nd birthday, and
Upon the girl's 3rd birthday.
Suppose that the fund that pays 4% interest compounded annually, and that the full balance of 10,527 dollars is withdrawn upon the girl's 15th birthday. How much is the
amount of each deposit?
Round your answer to the nearest whole number. Do not use currency signs such as "$."
Transcribed Image Text:A quinceañera fund is established by making four (4) identical deposits: . Upon the birth of a baby girl, • Upon the girl's 1st birthday, Upon the girl's 2nd birthday, and Upon the girl's 3rd birthday. Suppose that the fund that pays 4% interest compounded annually, and that the full balance of 10,527 dollars is withdrawn upon the girl's 15th birthday. How much is the amount of each deposit? Round your answer to the nearest whole number. Do not use currency signs such as "$."
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