Professor's annuity Corp. Offers a life time annuity to retiring professors. for a payment of 80,000...

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Professor's annuity Corp. Offers a life time annuity to retiringprofessors. for a payment of 80,000 at age 65, the firm will paythe retiring professor $ 600 a month until death.
(A) If the professor's remaining life expectancy is 20 years,what is the monthly interest rate on this annuity? (Do not roundintermediate calculations. Enter your answer as a percent roundedto 2 decimal places)
(B) What is the effective annual interest rate? (Use the monthlyrate computed in part (A) rounded to decimal places when expressedas a percent. Enter your answer as a percent rounded to decimalplaces)
(c) if the monthly interest rate is 5%, what monthly annuitypayment can the firm offer to the retiring professor? (Do not roundintermediate calculations. Round your answer to decimalplaces.)

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Professor's annuity Corp. Offers a life time annuity to retiringprofessors. for a payment of 80,000 at age 65, the firm will paythe retiring professor $ 600 a month until death.(A) If the professor's remaining life expectancy is 20 years,what is the monthly interest rate on this annuity? (Do not roundintermediate calculations. Enter your answer as a percent roundedto 2 decimal places)(B) What is the effective annual interest rate? (Use the monthlyrate computed in part (A) rounded to decimal places when expressedas a percent. Enter your answer as a percent rounded to decimalplaces)(c) if the monthly interest rate is 5%, what monthly annuitypayment can the firm offer to the retiring professor? (Do not roundintermediate calculations. Round your answer to decimalplaces.)