You want to create a finance award that will pay prizes into perpetuity. You want the award payments to occur every 7 years, with the first payment occurring exactly 9 years from now. You want the prizes to increase with inflation, with the very first prize having a real value of $95,000 (in todays purchasing power).

If the prize fund can earn a nominal 10.6% APR, compounded monthly, what would you need to contribute to this prize fund today in order to make this happen? Inflation is 1.5% APR, compounded quarterly