Bill needs $28,000 to buy a new car in five years. How much should he deposit at the end of every quarter into an account that earns 8% interest compounded quarterly?

Use one of the following Formulas to solve:

=(1+)

=(1+)^

=(1+)^1

= (1 + i) + R

F = (1+)^1 / *R

P = 1(1+)^ / *R