Professor's Annulty Corp. offers a lifetime annulty to retiring professors. For a payment of $71,000 at age 65 , the firm will pay the retiring professor $375 a month until death. a. If the professor's remaining life expectancy is 20 years, what is the monthly Interest rate on this annulty? (Do not round Intermeclate calculations. Enter your answer as a percent rounded to 2 decimal places.) \begin{tabular}{|l|r|} \hline \multicolumn{2}{|c|}{ Answer is complete and co } \\ \hline Monthly rate on annuity & 0.21 \\ \hline \end{tabular} b. What Is the effective annual Interest rate? (Do not round Intermedlate calculations. Round your answer to 2 decimal places.) Answer is complete but not entirely correct. c. If the monthly Interest rate is 0.75%, what monthly annulty payment can the firm offer to the retiring professor? (Do not round Intermedlate calculations. Round your answer to 2 decimal places.)