1.For their daughter's future education, David and Bonnie set a fund in which they invest at the end of every six months for 16 years. The first investment is $100 and they plan to increase their investments at a constant rate of 0.7% every six months. The investments can earn 2.4% compounded semi-annually.

a)How much money will be in the fund in 16 years when their daughter goes to college?

b) What will be the investment amount of their last contribution into the fund?