a. Mrs. Gobi will make end-of-quarter deposits of $850 to her RRSP. The fund earns 4% compounded semiannually. Rounding It upward, how long will it take for the funds in the RRSP to grow to $250,000?

b. If Mrs. Gobi uses $250,000 to purchase an annuity earning 3% compounded semiannually and paying $2500 at the end of every month, how long after the purchase date will the annuity payments continue? Round the answer up to the next-highest integer.