Answer:
$19,201.09
Step-by-step explanation:
The future value of the annuity due can be found using any of a number of apps, calculators, or spreadsheets. It can also be found using the formula ...
A = P(1 +r)((1 +r)^n -1)/r
where P is the annual payment, r is the annual interest rate, and compounding is yearly for n years.
A = 2535(1.1418)(1.1418^5 -1)/0.1418 ≈ 19,201.09
The value will be $19,201.09.
