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Scott has saved $ 560 per quarter for the last three years in a savings account earning 5

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Scott has saved $ 560 per quarter for the last three years in a savings account earning 5.2% compounded quarterly. He plans to leave the accumulated savings for seven years in the savings account at the same rate of interest. (i) How much will Scott have in total in his savings account? (ii) How much did he contribute? *

 

(i) $10,368.53 (ii) 6720.00

 

(i) $10,155.90 (ii) 8500.00

 

None of the answers is correct

 

(i) $10638 (ii) 7289.00

 

(i) $9981.80 (ii) 8600.00