BUS115S-20220516SC8A This test: 50 www Test: Week 5 Assignment Question 11 of 15 point(s) possible This...

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BUS115S-20220516SC8A This test: 50 www Test: Week 5 Assignment Question 11 of 15 point(s) possible This question: 3 point(s) possible Resume later Submit test Tom estimates that his daughter's college needs, beginning in 8 years, will be $3300 at the end of each quarter for 4 years. (a) Find the total amount needed in 8 years, assuming 6% compounded quarterly (b) Will he have enough money available in 8 years if he invests $700 at the end of each quarter for the next 8 years at 6% compounded quarterly? Click here to view page 1 of the present value of an annuity lable Click here to view page 2 of the present value of an annuity table. Click here to view the amount of an annuity table (a) The total amount needed in 8 years is approximately $ (Round to the nearest cent as needed.) (b) If Tom invests $700 at the end of each quarter for 8 years, will he have enough money? O Yes No 99+) Next 87F 4:06 PM 6/19/2022 BUS115S-20220516SC8A This test: 50 www Test: Week 5 Assignment Question 11 of 15 point(s) possible This question: 3 point(s) possible Resume later Submit test Tom estimates that his daughter's college needs, beginning in 8 years, will be $3300 at the end of each quarter for 4 years. (a) Find the total amount needed in 8 years, assuming 6% compounded quarterly (b) Will he have enough money available in 8 years if he invests $700 at the end of each quarter for the next 8 years at 6% compounded quarterly? Click here to view page 1 of the present value of an annuity lable Click here to view page 2 of the present value of an annuity table. Click here to view the amount of an annuity table (a) The total amount needed in 8 years is approximately $ (Round to the nearest cent as needed.) (b) If Tom invests $700 at the end of each quarter for 8 years, will he have enough money? O Yes No 99+) Next 87F 4:06 PM 6/19/2022