You deposit $$11,700$ annually into a life insurance fund for the next $10$ years, at which time you plan to retire. Instead of a lump sum, you

wish to receive annuities for the next $20$ years. What is the annual payment you expect to receive beginning in year $11$ if you assume

an interest rate of $7$ percent for the whole time period? $($Do not round intermediate calculations. Round your answer to $2$ decimal

places. $($e$.$g$.,32\mathrm{.}16))$

Annuities per year over the next twenty years