Laura made periodic deposits into a savings account at the end of every month for 4 years. The investments were earning 5.10% compounded quarterly and grew to $10,000.00 at the end of 4 years.

a. Calculate the size of the month-end deposits.

$192.76

$188.33

$152.33

$184.08

b. How long will it take for the $10,000.00 to accumulate to $33,510.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term?

8 years and 1 months

11 years and 1 months

7 years and 1 months

7 years and 3 months