Problem:
Jacqui Rhyu works for a company with a generous retirement program. The firm contributes an annuity of $52000 per year at the end of each year on her behalf. Jacqui estimates that she will work and therefore receive this benefit for the next 11 years, and then retire. Assuming the money can be invested every year at 6.35%, how much will she have when she begins her retirement in 11 years?
Note: Explain all calculation and formulas.