Tomorrow, on your 25th birthday, you will receive the proceeds of a trust fund that was set up by your wealthy grandmother. She invested $10 000 at 5% on your 5th birthday. You plan to invest your inheritance with an insurance company at a guaranteed rate of 12%. When you retire at the age of 55, you will begin to draw your investment in 20 equal installments calculated to reduce your fund to $0. You will make each withdrawal at the end of the year, and that the money that remains invested will continue to earn 12%. What will be the amount of each installment?