This is a problem involving compound interest with regular contributions. The formula used for future value in such a case (with periodic contributions and compound interest) is:

$FV = P \times \frac{{(1 + i)^n - 1}}{i}$

Where:

• $FV$ is the future value.
• $P$ is the regular contribution (in this case, $18,000).
• $i$ is the interest rate per period (compounded quarterly, so we divide the annual rate by 4).
• $n$ is the total number of periods (quarterly contributions for 3 years means 12 periods).

Given:

• The annual interest rate is 2%, so $i = \frac{0.02}{4} = 0.005$.
• $P = 18,000$ (the contribution made at the end of every 3 months).
• $n = 4 \times 3 = 12$ (the total number of quarterly periods over 3 years).

Now, let's calculate the future value.After 3 years, CP will have approximately $222,040.12 in the account.

Do you want more details or have any questions about the process?

Here are 5 related questions to explore this topic further:

1. How would the final amount change if the interest were compounded monthly instead of quarterly?
2. What if the interest rate increased to 3%? How would the future value be affected?
3. How much would CP need to contribute each quarter to reach $250,000 in 3 years?
4. Can we calculate the interest earned after 3 years?
5. How does the time period affect the future value in compound interest scenarios?

Tip: Always remember that more frequent compounding periods (like monthly or weekly) result in more interest earned over time.