We need to find the future value of annuity due with the following given values :-
Payment, Pm = 295 dollars.
N=4 (for quarterly)
Rate at 10%, r = 0.10/4 = .025
Time for 6 years, T = 6x4 = 24.
Future Value formula is :-
[tex]FV_{ad}=P_m*(1+r)*[\frac{(1+r)^T-1}{r} ] \\\\
FV_{ad}=295*(1+0.025)*[\frac{(1+0.025)^{24}-1}{0.025} ] \\\\
FV_{ad}=295*(1.025)*[\frac{(1.025)^{24}-1}{0.025} ] \\\\
FV_{ad}=295*(1.025)*[\frac{(1.80872595)-1}{0.025} ] \\\\
FV_{ad}=295*(1.025)*[\frac{0.80872595}{0.025} ] \\\\
FV_{ad}=295*(1.025)*(32.34903798) \\\\
FV_{ad}=9,781.54 \;dollars[/tex]
Hence, the final answer is 9,781.54 dollars.
