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What is the amount of the special contribution

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Question: Milos wants to have 220,490 dollars in his investment account in 9 years from today. He expects to earn a return of 17.04 percent per year in that account. Milos plans to make regular, equal savings contributions of 8,430 dollars per year to his account for 9 years, with the first of these regular, equal savings contributions made later today. In addition to and separate from the regular contributions of 8,430 dollars per year, Milos expects to make a special contribution to his account of X in 2 years from today. What is X, the amount of the special contribution that Milos will make to his account in 2 years from today?

Reference no: EM131442011

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