Ms. Lim is saving for her retirement and purchased an endowment policy from an insurer which requires her to set aside $12,000 per year for the next 30 years. Her projected yield on the endowment policy is 3.75% per annum. On maturity, the projected lump sum that she can receive for her retirement is ___________.

$483,253

$669,801

$645,591

$ 699,801