Susan and Bill Stamp want to set up a TDA that will generate sufficient interest at maturity to meet their living expenses, which they project to be$1,100per month. (Round your answers to the nearest cent.)

(a) Find the amount needed at maturity to generate$1,100per month interest, if they can get7 1/4% interest compounded monthly?

(b)Find the monthly payment that they would have to make into an ordinary annuity to obtain the future value found in part (a) if their money earns 9 3/4% interest and the term is thirty years?