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We have used the formula 4-R [ (1+1)" - 1] to find the future value...

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We have used the formula 4-R [ (1+1)" - 1] to find the future value of an ordinary annuity where payments are made at the end of each period. Another option allows the payments to be made at the beginning of each period. Such an annuity is called an annuity due. The future value of an annuity due at the end of n periods with periodic payments, R, at the beginning of each period is given by A =R [(1 + )"+1-(1 + = (1 + i)] Find the future value of an annuity due with monthly payments of $80 for 24 months. The annual interest rate is 4.1%. (Round your final answer to two decimal places.) $

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