Asmall business owner contributes $3000 at the end of each quarter to a retirement account that earns 8% compounded quarterly. (a) how long will it be until the account is worth $150,000? (round your answer up to the nearest quarter.)
(b) suppose when the account reaches $150,000, the business owner increases the contributions to $7000 at the end of each quarter. what will the total value of the account be after 15 more years? (round your answer to the nearest dollar.)