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8) Lisa set up a savings plan with BMO whereby he deposits $445 at the end of each quarter for 2 years. Interest throughout the
8) Lisa set up a savings plan with BMO whereby he deposits $445 at the end of each quarter for 2 years. Interest throughout the 2-year time period is 4.64% compounded quarterly. The amount in his account at that time will become a term deposit withdrawable after a further 8 years, where interest changes to 2.61% compounded semi-annually. Calculate the total interest earned on the investment. Round your answer to the nearest dollar. Full solution to this problem required in the rough work. (DO NOT USE MICROSOFT EXCEL)
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