Caleb set up a savings fund for her son's education so that she would be able to withdraw $1,625 at the beginning of every month for the next 10 years. The fund earns 5.52% compounded quarterly.

a. What amount should she deposit today to allow for the $1,625 periodic withdrawals?

1) $95,018.37

2) $149,768.87

3) $150,454.66

4) $96,329.62

b. How much interest would she earn in this investment?

1) $150,454.66

2) $44,545.34

3) $195,000.00

4) $45,231.13