What one time payment should he make on forty-th birthday

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Problem 1: On his 40th birthday, you had decided to buy a pension plan for himself. This plan will allow him to claim 10,000 quarterly for 5 years starting 3 months after his 60th birthday. What one time payment should he make on his 40th birthday to pay off this pension plan, if the interest rate is 8% compounded quarterly.

Reference no: EM132837279

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