Suppose you were hired on January 1, 2010 and started depositing $600 at the end of each quarter (meaning every three months, with the first deposit on March 31, 2010) in a pension fund that pays interest of 4% per year compounded quarterly on the minimum quarterly balance and credited at the end of each quarter.
a.How much money was in the pension fund on July 1, 2010?
b.How much money was in the pension fund on October 1, 2010?
c.How much money will be in the pension fund on January 1, 2030?
d.What is the total amount of interest earned in this pension fund during these 20 years?
