Karl and Nancy Cohen have 1 child, age 5. Nancy makes $76,000 per year, and Karl stays home with the child. Karl can earn 4.5%, after taxes and inflation, on an invested insurance settlement. a) How much insurance do they need to provide for 20 years? (For a family of 3 , the income need drops by 26% if one person (Nancy) dies). b) Suppose that Karl wants to receive the insurance settlement in installments instead of a one-time payment. If 4% is the interest credited to the policy settlement, how much will Karl receive each year if he wants 15 installment payments? c) Suppose that Karl wants $90,000 per year, how many payments will he receive? 4% is the interest credited to the policy settlement