The amount of the special savings contribution

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Reference no: EM131978791

Milos wants to have 194,536 dollars in 9 years. Milos plans to make regular savings contributions of 8,350 dollars per year for 9 years, with the first of these regular savings contributions made later today. In addition, Milos expects to make a special savings contribution of X in 2 years. He expects to earn 14.61 percent per year. What is X, the amount of the special savings contribution that Milos will make in 2 years from today?

Reference no: EM131978791

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