If Gerry Makes a Deposit of $1,500 at the End

question 27

Multiple Choice

If Gerry makes a deposit of $1,500 at the end of each quarter for five years, how much will he have at the end of the five years assuming a 12% annual return and quarterly compounding?

• A) $40,305
• B) $30,000
• C) $108,078
• D) $161,220

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Definitions:

Psychotherapy

A therapeutic treatment involving psychological techniques to help individuals understand and overcome psychological and emotional issues.

Self-help Groups

Peer-led support groups for individuals facing similar issues, challenges, or conditions, providing mutual aid and encouragement.

Aaron Beck

A psychiatrist known for developing Cognitive Therapy, which later became known as Cognitive Behavioral Therapy, a widely used approach for treating mental disorders.

Depressed Clients

Individuals seeking therapeutic or counseling services who are experiencing symptoms of depression, such as persistent sadness or a lack of interest in life.