How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a debt of $60,000 in 9 years?

How much must be invested at the beginning of each year at 11%, compounded annually, to pay off a debt of $60,000 in 9 years?

(a) State whether the problem relates to an ordinary annuity or an annuity due.  I just need b answered, please.

annuity due

(b) Solve the problem. (Round your answer to the nearest cent.)