Pascal has just agreed with his financial planner to begin a voluntary accumulation plan. He will invest

Question:

Pascal has just agreed with his financial planner to begin a voluntary accumulation plan. He will invest $500 at the end of every three months in a balanced mutual fund. How much will the plan be worth after 20 years if the mutual fund earns:
a. 8% compounded quarterly?
b. 10% compounded quarterly?