and Mrs. Tran are expecting a baby girl in a few days. They want to put away money for her college education now.

Mr. and Mrs. Tran are expecting a baby girl in a few days. They want to put away money for her college education now. How much money should they deposit at the end of each quarter in an account paying 6.0% compounded quarterly so they will have $120,000 in 18 years to pay for their daughter's educational expenses?

Round answer to nearest cent. Show work.