Answer
a). Total Scholarship fund at the end of 10 year = 693,030.8
b). Interest = 293,030.8
Work Step by Step
a). Invest per three month = 10000
Compound interest rate quarterly is 10.5% = 0.105
Total Scholarship fund at the end of n year = $\frac{P [(1 + \frac{r}{n})^{n\times t} - 1]}{\frac{r}{n}}$
Total Scholarship fund at the end of 10 year = $\frac{10000 [(1 + \frac{0.105}{4})^{4\times 10} - 1]}{\frac{0.105}{4}}$
= 10000$\times$ 69.3
= 693030.8
b). Interest = 693030.8 - (10000$\times$4$\times$10) = 171271.4 - 400000 = 293030.8
