Christine Parks Received a Trust Fund Inheritance of $15,000 on Her

question 88

Multiple Choice

Christine Parks received a trust fund inheritance of $15,000 on her 20th birthday. She plans to use the money to supplement her income with 28 quarterly payments beginning on her 50th birthday. If the money is worth an annual rate of 7.2% compounded quarterly, how much will each quarterly payment be? Round your answer to the nearest cent. ​

• A)$7,107.79
• B)$5,738.01
• C)$9,124.39
• D)$10,155.25
• E)$2,437.07

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