When Jack started his job working for an industrial manufacturing company, he contributed $400 at the end of each quarter into a savings account that earned 3.1 % interest compounded quarterly for 20 years. Then after 20 years working at the manufacturer, he retired and no longer placed money in the account and did not withdraw any money for 5 years. Do the following using the appropriate formulas. a. If he decides to close the account after the 25 years that he had the account, then determine how much money would be in the account. Do NOT use the TVM Solver to solve this problem! Use the appropriate formulas and show the necessary intermediate steps that indicate that you solved this using the formula and not the TVM Solver (as discussed in class). Show all the necessary work that you need perform to arrive at the answer. Place a box around your final answers. (10 points) b. Determine the total interest that Jack earned during the 25 years that he had the account. Place a box around your final answers. (10 points) When Jack started his job working for an industrial manufacturing company, he contributed $400 at the end of each quarter into a savings account that earned 3.1 % interest compounded quarterly for 20 years. Then after 20 years working at the manufacturer, he retired and no longer placed money in the account and did not withdraw any money for 5 years. Do the following using the appropriate formulas. a. If he decides to close the account after the 25 years that he had the account, then determine how much money would be in the account. Do NOT use the TVM Solver to solve this problem! Use the appropriate formulas and show the necessary intermediate steps that indicate that you solved this using the formula and not the TVM Solver (as discussed in class). Show all the necessary work that you need perform to arrive at the answer. Place a box around your final answers. (10 points) b. Determine the total interest that Jack earned during the 25 years that he had the account. Place a box around your final answers. (10 points)