Today, Tom opened a savings account and deposited $50,000 into the account. The account offers an APR of 9% with monthly compounding. At the same time, Tom signed a 5-year investment plan, which requires him to put in a fixed amount X every quarter for the next five years, and the first payment is due 3 months from today. The investment plan offers an APR of 12% with quarterly compounding. At the end of Year 5, Tom will transfer all the money in the investment plan to his savings account. As a result, all his money will be in the savings account after Year 5.

Suppose at the end of Year 8, the total value of his savings account is $207,937.43, a. What is the principal plus interest of the original deposit of $50,000 after 8 years? [0.5 point] b. What is the amount X that he puts in every quarter under the 5-year investment plan? [1.5 points]