Siegfried Basset is 65 years of age and has a life expectancy of 12 more years. He wishes to invest $20,000 in an annuity that will make a level payment at the end of each year until his death. If the interest rate is 8%, what income can Mr. Basset expect to receive each year?

PLEASE show answer for how to do this problem in excel using an excel function. OR let me know which function I need to solve this in excel. Thank You!!