Professor's Annuity Corp. offers a lifetime annuity to retiring professors. For a payment of exist84,000 at age 65, the firm will pay the retiring professor exist700 a month until death. a. If the professor's remaining life expectancy is 15 years, what is the monthly interest rate on this annuity? What is the effective annual rate? Monthly rate on annuity % b. What is the effective annual interest rate? Effective annual rate % c. If the monthly interest rate is 75%, what monthly annuity payment can the firm offer to the retiring professor? Monthly annuity payment exist