a.) Federal Savings Bank is offering a 6-month CD (certificate of deposit) with a rate of 4.5% compounded daily. What is the equivalent annual percentage rate compounded annually on the CD?

b.) Starting at age 30 and at the end of each month, you invest $540 into a retirement IRA. The IRA guarantees a rate of 9% compounded monthly for life of the account. How much money will you have in the account when you turn 65?

* If it is alright with you, can you assist me with both of these parts here? I am having trouble trying to understand with what I am supposed to do and go through the process of figuring these out. Both parts count as one problem, so I would really appreciate the help. Thanks!