Question 61862
A teacher wants to have $250,000 at retirement in 30 years by making a one time deposit in an account offering 7% interest compounded quarterly. How much does the teacher need to deposit? 
Use the formula:
P= A(1+r/n)^nt
250000=A(1+0.07/4)^(4*30)
250000=A(8.0191834...)
A=$31,175.24 (amount she needs to deposit)
Cheers,
Stan H.