So your sample rate is 72*50=3600 samples per second. Answer to your initial question: indeed it (generating this signal and at same time i have to measure that signal and vary its amplitude ) can be done with MCU like msp430. To be absolutely sure - you shall write test code which "measures signal and vary amplitude", see how fast it runs (samples per second). If test can reach like twice the speed (7200 sps) or more, then you shall be OK.
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