The Hall family wants to save money to travel the world. They purchase an annuity with a monthly payment of

$48

that earns

4.8%

interest, compounded monthly. Payments will be made at the end of each month. Find the total value of the annuity in

11

years. Do not round any intermediate computations, and round your final answer to the nearest cent. If necessary, refer to the

list of financial formulas

.