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Consider an annuity that pays $400 per year for 15 years, with the first payment starting a year later (t=1). What is its future value

image text in transcribed Consider an annuity that pays $400 per year for 15 years, with the first payment starting a year later (t=1). What is its future value 15 years from now at an expected return of 6% per year? Note: Show your answer in units of dollars, use plain numbers with at least two digits after the decimal (e.g., for $12,345.67, type 12345.67 )

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