You deposit $12,000 annually into a life insurance fund for the next 20 years, at which time you plan to retire. Instead of a lump sum, you wish to receive annuities for the next 25 years. What is the annual payment you expect to receive when you retire if you assume an interest rate of 7 percent for the whole time period? $42,214.13 $43,056.02 $41.852.95 $40,100.50