you have just purchased a life insurance policy, whole life, that requires you to make 43 semi annual payments of $635 each where the first payment is made immediately. The insurance company has guaranteed that these payments will be invested to earn you an effective annual rate of 8.4722085% although interest is compounded monthly. At the end of 21 years you may elect to receive the proceeds of this policy in 15 equal annual payments were the first payment will begin one year after the policy terminates. If the effective annual rate remains at 8.4722085% then how much will you receive during each of these 15 years.