Bill intends to retire in eight years. To supplement his pension, he would like to receive $450 every three months for 15 years. If he is to receive the first payment three months after his retirement and interest is 5% compounded quarterly, how much must he invest today to achieve his goal?

Use six decimal places for intermediate calculations and round the final answer to 2 decimal places (e.g., $0.00)

Be sure to show the financial calculator inputs for PY, I, PV, CY, N, FV and PMT. Show the work for each calculation