Shawn made periodic deposits into a savings account at the end of every month for 4 years. The investments were earning 7.80% compounded quarterly and grew to $12,500.00 at the end of 4 years.

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

a. $228.48

b. $222.97

c. $159.64

d. $217.68

b. How long will it take for the $12,500.00 to accumulate to $38,125.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term?

a. 6 years and 8 months

b. 9 years and 8 months

c. 5 years and 8 months

d. 5 years and 10 months