Deposit $150 at the end of every month for ten years into a savings account that earns 3% compounded monthly. At the end of the ten years, transfer the accumulated money into an investment fund that earns 6% compounded quarterly, and allow the money to grow in this fund until retirement.
b. How long (in years and months) would it take to accumulate the required amount of $45,000.
c. To ensure that the amount accumulates to only $45,000 at the time of retirement, by how much should he change his monthly deposit?