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Math Help - Annuity question.

  1. #1
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    Post Annuity question.

    A father wants to set aside money for his 8-year old daughter's future education, by making monthly deposits to a bank account that pay's 8 % per year, compunded annually. What equal monthly deposits must the father make- the first 1 month after her 9th birthday and the last on her 17th birthday-in order for her to withdraw $4000 on each of her next four birthdays (the 18th through the 21st)?

    I was provided with the answer. $103.80
    But, I would like to know the steps through the problem that get me to that solution?
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