Bo Bichette wants to receive $15,000 quarterly payments for 15 years when he retires. To accomplish his goal, he has decided to start making $3,000 end of monthly payments TODAY into his 6.5 % compounded semi-annually retirement account. If rates always stay the same, in how many years can he retire and reach his goal?

a) How much money does he need to sustain those $15,000 quarterly payments when he retires?

b) How long (in years) must he make those $3,000 end-of-month payments for to reach his retirement goal?