Question: Please solve it correctly. do not solve in Excel. do it handwritten, step by step. Thank you. ABC Corporation has invested $2.5 million every 3

Please solve it correctly. do not solve in Excel. do it handwritten, step by step. Thank you.

ABC Corporation has invested $2.5 million every 3 months in an investment which earns interest at the rate of 10.5% per year compounded quarterly. The first investment will be at the end of this current quarter.

a. To what sum will the investment grow at the end of 5 years?

b. How much interest will be earned during this period?

After 5 years the corporation give loan to XYZ Company that accumulated amount for another 3 years. What amount finally ABC Corporation will have after 8 years time. How much interest will be earned after 8 years.

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