When Dan signed a two$-$year contract as a$$ manager, the company allowed reimbursement of $$$$450$ at the end of every month for his car expenses. At the time the contract was$$ signed, money was worth $8\mathrm{.}62\%$ compounded monthly.

$($a$)$ What value did the expense reimbursement provision have when the contract was$$ signed?

$($b$)$ What is the outstanding value of the reimbursement after the $11$th $$payment$?$

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Part $1$

$($a$)$ The value was $$$

$$

enter your response here.

$($Round to the nearest cent as needed. Round all intermediate values to six decimal places as$$ needed.$)$

Part $2$

$($b$)$ The outstanding value is $$$

$$

enter your response here.

$($Round to the nearest cent as needed. Round all intermediate values to six decimal places as$$ needed.$)$