A payment of $6,500 was made into an account at the end of every 3 months for 12 years.

a) a.If the interest rate for the first 3 years was 3.00% compounded monthly, calculate the future value at the end of the first 3 years.

b) b.If the interest rate for the next 9 years was 5.00% compounded annually, calculate the future value at the end of the 12 year term.

2 . Calculate the accumulated amount of end-of-quarter payments of $1,500 made at 6.21% compounded monthly for 5 years.