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A small business owner contributes [tex]$2,000 at the end of each quarter to a retirement account that earns 6% compounded quarterly. (a) How long will it be until the account is worth at least $[/tex]150,000? (Round your answer UP to the nearest quarter.)
X quarters
(b) Suppose when the account reaches [tex]$150,000, the business owner Increases the contributions to $[/tex]8,000 at the end of each quarter. What will the total value of the account
be after 15 more years? (Round your answer to the nearest dollar.)
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