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Consider an annuity that pays $ 5 0 0 per year for 1 2 years. The first payment happens a year later ( at time

Consider an annuity that pays $500 per year for 12 years.
The first payment happens a year later (at time node t=1)
The last payment happens 12 years later (at t=12)
There are a total of 12 payments
What is its future value of the annuity 12 years from now )=(12 with an expected return of 7% 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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