You want to purchase a ranch after you retire. Let$$s assume you expect to purchase a ranch that today costs $$750,000.$ You expect the value of the ranch to increase by $1\mathrm{.}25\%$ annually for the next $30$ years.

a$.$ How much do you expect the land to be worth in $30$ years?

b$.$ You found an investment account that earns $9\%$ annual interest, and it is compounded monthly. How much money would you have to put into the account every month in order to purchase the ranch in $30$ years? In other words, what is the payment on a sinking fund for how much you expect the ranch to cost in $30$ years $($calculated in part a$),$ assuming a $9\%$ annual interest rate compounded monthly. $4$ pts