Problem 1 When Jack started his job working at an industrial manufacturing company, he contributed $975 at the end of each three months into a savings account that earned 1.23 % interest compounded quarterly for 13 years. At the end of the 13th year, Jack was laid off. Fortunately, Jack didn't have to touch the savings account while he was laid off because his wife's income was able to meet the family expenses. After being laid off for one year, Jack found another job and he started contributing $585 back into the savings account at the end of each three months for the next ten years. How much money would Jack have in the account at the end of the tern years after starting his new job? You may use the TVM Solver. Show all the necessary work that you need perform to arrive at the answer. The answer should be in the form of a sentence. (15 points)