(Solved): Question 5 of 6 A payment of $6,000 was made into an account at the end of every 3 months for 12 yea ...

Question 5 of 6 A payment of

was made into an account at the end of every 3 months for 12 years. a. If the interest rate for the first 6 years was

compounded monthly, calculate the future value at the end of the first 6 years. Round to the nearest cent b. If the interest rate for the next 6 years was

compounded annually, calculate the future value at the end of the 12 year term.