insurance Companles -HW 01 6 Saved You deposit $10,000 annually into a life insurance fund for the next 10 years, after which time you plan to retire a. If the deposits are made at the beginning of the year and earn an Interest rate of 7 percent, what will be the amount In the retirement fund at the end of year 10? (Do not round intermedlate calculations. Round your answer to 2 decimal places. (e.g. 32.16)) Future value b. Instead of a lump sum, you wish to receive annulties for the next 20 years (years 11 through 30). What is the constant annual payment you expect to receive at the beginning of each year if you assume an interest rate of 7 percent during the distribution perlod? (Do not round Intermedlate caiculations. Round your answer to 2 declmal places. (e.g., 32.16)) Annual payment c. Repeat parts (a) and (b) above assuming earning rates of 6 percent and 8 percent during the deposit period and earning rates of 6 percent and 8 percent during the distribution period. (Do not round Intermedlate calculations. Round your answers to 2 declmal places. (e.g., 32.16)) Deposit erlod Annual payment Distribution Period 6 percent 8 percent Value at 10 Years 6 percent 8 percent $ 6 percent 8 percent