a)Lucy looked into her clients investment portfolio; stating that perpetuity earning 6.50% compounded semi-annually is started with a $144,000.00 investment. How much money could be regularly withdrawn from the investment every 6 months?

$Round your answer to the nearest cent

b)Lucy then purchased an annuity for her that had an interest rate of 2.50% compounded semi-annually. It provided her with payments of $1,000 at the end of every month for 3 years. If the first withdrawal is to be made in 5 years and 1 month, how much did she pay for it?

Round to the nearest cent