Correct amount to deposit, TODAY: 

Use the formula: , where:   

To make it a LITTLE easier, you can calculate 

The other person who responded KEEPS doing these problems the wrong way, and keeps giving wrong answers, ALL the time. 

With his answer: $25,395.52, quarterly payments will NEVER be $1,000. That amount will only provide $892.09 every quarter for 8 years. 

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