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George deposited $15,000 into a fund at the beginning of every quarter for 12 years. He then stopped making deposits into the fund and allowed
George deposited $15,000 into a fund at the beginning of every quarter for 12 years. He then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 2.81% compounded monthly.
a.What was the accumulated value of the fund at the end of year 12?
b.What was the accumulated value of the fund at the end of year 17?
c.What is the total amount of interest earned over the 17-year period?
Kindly explain with details
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