Determine the Quarterly Payment Necessary to Accumulate $100,000 in a Fund

question 22

Short Answer

Determine the quarterly payment necessary to accumulate $100,000 in a fund paying 7% per year, compounded quarterly, for 19 years. Assume end-of-period deposits and compounding at the same intervals as deposits. (Round your answer to the nearest cent.)
​
$__________ per quarter

---

Definitions:

Personality Disorders

Mental health conditions characterized by enduring patterns of behavior, cognition, and inner experience that deviate markedly from the expectations of the individual’s culture.

Unstable Relationships

Interpersonal connections characterized by unpredictability, intense emotions, and frequent conflicts or changes in feelings.

Borderline Personality Disorder

a mental illness characterized by pervasive instability in moods, self-image, and behavior, often leading to impulsive actions and unstable relationships.

Manic Behavior

A state of heightened energy, mood, and activity levels, often seen in bipolar disorder during the manic phase.