Problem 5 15 Marks As a responsible corporate citizen, Carrium Insights Inc set up a college fund for under-privileged students in its community 10 years ago. Carrium deposited $2,500 monthly over the 10-year period in an account earning 6% compounded monthly; no withdrawals were allowed during this funding period. a) Compute the value of this college fund, after 10 years' worth of monthly deposits. 5 Marks b) If Carrium deposits the value of this fund (answer in (a) above) into a new account earning 8% interest annually, how much would Carrium be able to withdraw at the beginning of each year over the next 10 years to assist qualifying students? 7 Marks c) If the fund was set up with an initial deposit of $500,000, instead of monthly deposits over 10 years. How long would It have taken Carrium to accumulate the amount from part (a) in the same account earning 8% interest annually? 3 Marks