At the end of each quarter, a 48-year-old individual puts $1200 in a retirement account that pays 9.7% interest compounded quarterly. (a) When the individual reaches age 60, what is the value of the account? (b) If no further deposits or withdrawals are made to the account, what is the value of the account when the individual reaches age 65? (a) When the individual reaches age 60, the value of the account will be (Do not round until the final answer. Then round to the nearest cent as needed.) (b) When the individual reaches age 65, the value of the account will be $ . (Do not round until the final answer. Then round to the nearest cent as needed.)