When lisa was first hired by the EPA, she had sufficient income to deposit $600 each quarter into an IRA paying 10% interest, compounded quarterly. The quarterly deposits last for 12 years.
a. How much was in the account at the end of 12 years?
b. Because of her parents nursing home costs, Lisa was not able to continue the deposits. Instead she deposited the entire IRA account into a 30 year certificate of deposit earning 12% compounded monthly. What was the value of the account when it matured?