Phoebe needs $6000 one year from now to finance the recording of her acoustic music album. Phoebe has $1200 that she can put in a high-interest savings account that has an interest rate of 2.1% compounded daily. She also has $2500 in a bond earning 1.7% interest compounded monthly that she can cash in at any time.

a) How much money will Phoebe need to deposit monthly into an account that earns 1.25% interest compounded monthly in order to finance her album?

b) Calculate the rate of return on Phoebe's investments.