Make regular savings contributions

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Reference no: EM131016243

Piotr plans to make regular savings contributions of 8,400 dollars per year to his retirement account for 8 years. His first regular contribution to his retirement account is expected in 1 year. In addition, he also plans to make a one-time, special contribution of 12,700 dollars to his retirement account in 3 years from today. Piotr expects to earn 3.42 percent per year in his retirement account and he plans to retire in 8 years. How much money does Piotr expect to have in his account when he retires, immediately after making his last contribution?

Reference no: EM131016243

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