On his 40th birthday, Mr. Ramos decided to buy a pension plan for himself. This plan will allow him to claim 10,000 quarterly for 5 years starting 3months after his 60th birthday. What one-time...

On his 40th birthday, Mr. Ramos decided to buy a pension plan for himself. This plan will allow him to claim 10,000 quarterly for 5 years starting 3months after his 60th birthday. What one-time payment should he make on his 40th birthday to pay off this pension plan, if the interest rate is 8% compounded quarterly?