Contribute at the time of the wedding to cover its cost

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Reference no: EM131955204

A father is trying to save for his daughter’s wedding in two years. (Long engagement!). He thinks he can make the following contributions to an account: $10,190.00 today and $16,205.00 in one year. The father thinks he can earn 7.00% in the market each of the next two years. If the wedding is expected to cost $55,290.00 two years from today, how much will he need to contribute at the time of the wedding to cover its cost?

Reference no: EM131955204

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