Since the birth of her granddaughter, 15 years ago, Keith has deposited $250 at the beginning of every month into a Registered Education Savings Plan (RESP). The interest rate on the plan was 4.25% compounded monthly for the first 12 years and 4.75% compounded monthly for the next 3 years.

a. What was the accumulated value of the RESP at the end of 12 years?

b. What was the accumulated value of the RESP at the end of 15 years?

c. What was the amount of interest earned over the 15-year period?

ROUND TO THE NEAREST CENT