1. You decide to take an annuity distribution from the policy you were the beneficiary on. If the face value is $1,000,000.00, you opt to take it over the next 15 years and the interest rate is 4.5% annually, what is your monthly annuity?
2. You decided that you would like to purchase enough life insurance to cover expenses of $56,000 for 10 years earning 2.7% annually. How much do you need to purchase?