Over 14 years, Casey has saved $28800 by authorizing $120 to be deducted at the end of every month through a payroll deduction plan at his work. The money was sent to his savings account to be invested. a) What is the nominal annual rate of interest compounded monthly on the savings plan? b) If, after 14 years, he withdraws $540 at the end of each month, and the nominal rate of interest is changed to 5% compounded monthly, what is the term of the annuity?