Jamiehasjustbeenofferedascholarshipandeachmonthshewillreceiveanallowanceof$500amonthfora4yearbusinessprograminUBD.Shemanagestosave$200everymonthandinvestitintoabrokerageaccountattheendoftheyearthatpays12%perannum.

a.If the government did not give the scholarship but instead invest the money at 12% how much money would the government have at the end of the 4^th year? (Assuming money that is saved every month is invested at the end of the year)

b. How much money would she have saved at the end of the 4^th year?

c. How much money would she have saved at the end of 4^th year if the money is invested every month rather than at the end of the year?