Final answer:
Rosina's future value of an annuity can be calculated using the formula for the future value of an ordinary annuity with her annual savings, interest rate, and the period of 37 years. A financial calculator or spreadsheet is recommended for the actual computation.
Step-by-step explanation:
The student is asking for the future value of an annuity where Rosina plans on saving $2,000 each year for 37 years with an interest rate of 6.9 percent annually.
To calculate this, we use the future value of an ordinary annuity formula: FV = Pmt × ((1 + r)n - 1) / r, where Pmt is the annual payment, r is the annual interest rate, and n is the number of years.
Plugging in the values:
FV = $2,000 × ((1 + 0.069)37 - 1) / 0.069
Calculating this gives Rosina's future value of the annuity at the end of 37 years. It's recommended to use a financial calculator or spreadsheet software to compute the final amount due to the complexity of the calculation.