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Jeanne and Harold Kimura want to set up a TDA that will generate sufficient interest at maturity to meet their living expenses, which they project

Jeanne and Harold Kimura want to set up a TDA that will generate sufficient interest at maturity to meet their living expenses, which they project to be $850 per month. (Round your answers to the nearest cent.) (a) Find the amount needed at maturity to generate $850 per month interest if they can get 6 1/2 % interest compounded monthly. $ (b) Find the monthly payment that they would have to put into an ordinary annuity to obtain the future value found in part (a) if their money earns 8 1/4 % and the term is twenty-five years.

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