$$Jack and Jill are saving for a rainy day and decide to put

$$$$5050$

away in their local bank every year for the next

$3030$

years. The local$$ Up$-$the$-$Hill Bank will pay them

$1010\%$

on their account.

a$.$If Jack and Jill put the money in the account faithfully at the end of every$$ year, how much will they have in it at the end of

$3030$

$$years$?$

b$.$ Unfortunately, Jack had an accident in which he sustained head injuries after only

$1010$

years of savings. The medical bill has come to

$$$$700700.$

Is there enough in the$$ rainy$-$day fund to cover$$ it$?$