Blake made periodic deposits into a savings account at the end of every month for 5 years. The investments were earning 7.80% compounded quarterly and grew to $12,125.00 at the end of 5 years. 1. Calculate the size of the month-end deposits. a. $169.49
b. $166.10
c. $108.16 d. $162.81 2. How long will it take for the $12,125.00 to accumulate to $33,315.00 if the interest rate remained the same and he continued making the same month-end deposits throughout the term? a. 6 years and 10 months b. 10 years and 10 months c. 5 years and 10 months d. 5 years and 13 months