A company deposited $8,500 into an investment fund at the beginning of every quarter for 4 years. It then stopped making deposits into the fund and allowed the investment to grow for 5 more years. The fund was growing at 4.50% compounded monthly.
a. What was the accumulated value of the fund at the end of 4 years?
b. What was the accumulated value of the fund at the end of 9 years?
c. What was the amount of interest earned over the 9-year period?