Remy is planning to retire in $40$ years, at which point they would like to receive $$7,500$ monthly

payments for the rest of their life starting the day they retire. According to their budget, they can

save $$100$ biweekly. If the rate at the time of retirement is expected to be $4\mathrm{.}5\%$ compounded

quarterly, what minimum effective rate must a savings account offer over the next $40$ years for

Remy to meet their retirement goals?