Answer:
The future value of the annuity due to the nearest cent is $2956.
Step-by-step explanation:
Consider the provided information:
It is provided that monthly payment is $175, interest is 7% and time is 11 years.
The formula for the future value of the annuity due is:
Now, substitute P = 175, r = 0.07 and t = 11 in above formula.
Hence, the future value of the annuity due to the nearest cent is $2956.
Step-by-step explanation:
