Find the amount of the special payment

Reference no: EM131925894

Question: Sasha has an investment worth 13,230 dollars. The investment will make a special, extra payment of X to Sasha in 4 years from today. The investment also will make regular, fixed annual payments of 1,600 dollars to Sasha with the first of these payments made to Sasha later today and the last of these annual payments made to Sasha in 5 years from today. The expected return for the investment is 9.91 percent per year. What is X, the amount of the special payment that will be made to Sasha in 4 years?

Reference no: EM131925894

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