Morgan has $$500,000$ accumulated in her RRSP and intends to use the amount to purchase a $20-$year annuity. She is investigating the

size of annuity payment she can expect to receive, depending on the rate of return earned by the undistributed funds. What monthly

compounding nominal rate of return must the funds earn for the monthly payment to be: $($Round your answers to two decimal places.$)$

a$.$ $$3,000?$

The funds must earn $,\%$ compounded monthly.

b$.$ $$3,500?$

The funds must earn $\%$ compounded monthly.

c$.$ $$4,000?$

The funds must earn $\%$ compounded monthly.