Step 1 :Let's denote the amount of each deposit as \(P = \$100\)
Step 2 :The annual interest rate is \(r = 4.07\% = 0.0407\)
Step 3 :The interest is compounded quarterly, so the number of times interest is compounded per year is \(n = 4\)
Step 4 :Mrs. Devine made deposits for 18 years, so the total number of deposits is \(t = 18\) years
Step 5 :We can calculate the future value of the deposits using the formula for the future value of a series of equal deposits (or an annuity): \(FV = P \times \left(\frac{(1 + r/n)^{n \times t} - 1}{r/n}\right)\)
Step 6 :Three months after the last deposit, Robin starts to withdraw money every three months for two years, so the total number of withdrawals is \(2 \times n = 8\)
Step 7 :We can calculate the amount of each withdrawal by dividing the future value of the deposits by the total number of withdrawals: \(\text{withdrawal amount} = \frac{FV}{\text{total withdrawals}}\)
Step 8 :By substituting the given values into the formulas, we can calculate the amount of each withdrawal
Step 9 :Finally, we round the result to the nearest cent to get the final answer: Robin will receive \(\boxed{\$1317.93}\) every three months