Brooke and Collin plan to send their son to university. To pay for this they will contribute 10 equal yearly payments to an account bearing interest at the APR of 6.4%, compounded annually. Four years after their last contribution, they will begin the first of five, yearly, withdrawals of $51,300 to pay the university's bills. How large must their yearly contributions be? Submit Question

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Employer Pension Plan

An employer pension plan is a retirement benefit provided by an employer to employees before or after they retire. Over the course of the employees' working lives, the employer should invest a lump sum or make monthly contributions to investment schemes in employees' names. It is the employer's legal responsibility to provide employees with retirement plans that support them with guaranteed financial security in retirement.