Question: 7. [-/2 Points] DETAILS JMODD8 5.3.027. MY NOTES PRACTICE ANOTHER Jeanne and Harold Kimura want to set up a TDA that will generate sufficient interest

7. [-/2 Points] DETAILS JMODD8 5.3.027. MY NOTES PRACTICE ANOTHER Jeanne and Harold Kimura want to set up a TDA that will generate sufficient interest at maturity to meet their living expenses, which they project to be $900 per month. (Round your answers to the nearest cent.) (a) Find the amount needed at maturity to generate $900 per month interest if they can get 6% interest compounded monthly. $ (b) Find the monthly payment that they would have to put into an ordinary annuity to obtain the future value found in part (a) if their money earns 8% and the term is twenty-five years. $ Need Help? Raadi Watch t

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