<PRE><B>Question 108283</B>
The future value of an annuity formula is
{{{FV=P((1+i)^n-1)/i)}}}
where P is the periodic payment, n is number of time periods.
4 years quarterly = 4x4=16 time periods
8% compounded quarterly rate is 8%/4=2%
{{{32000=P((1+.02)^16-1)/.02)}}}
{{{32000=P((1.02)^16-1)/.02)}}}
{{{32000=P((1.373-1)/.02)}}}
{{{32000=P(18.6393)}}}
{{{P=1716.80}}}
The periodic payments are $1716.80. </PRE>