2001 - 21860-57 860 5311 levo cinamyes iddinom koups vse of Jose Ed intends to retire in 8 years. To supplement his pension he would like to receive $450 every three months for fifteen years. If he is to receive the first payment three months after his retirement and interest is 5% p.a. compounded quarterly, how much must he invest today to achieve his goal? Problem 12