Final answer:
The future value of the ordinary annuity is $16,808.55.
Step-by-step explanation:
To find the future value of an ordinary annuity, we can use the formula:
FV = PMT * [(1 + r)^n - 1] / r
Where FV is the future value, PMT is the annual payment, r is the discount rate, and n is the number of years.
In this case, the annual payment is $1,400, the discount rate is 4%, and the number of years is 10. Substituting these values into the formula, we get:
FV = 1400 * [(1 + 0.04)^10 - 1] / 0.04
Calculating this expression gives us an answer of $16,808.55.