Sean saved $100 at the end of every month for 7 years in his bank account that earned 5.80% compounded monthly.

a. What is the accumulated value of his savings at the end of the period?

$10,181.87

$10,331.08

$51,561.18

$1,931.08

b. What is the interest earned over the period?

$1,831.08

$10,331.08

$2,031.08

$1,931.08