QUESTION $1$

Michael has an investrrent worth $$219,367\mathrm{.}81.$ The investment will make a special payment of $x$ to Michael in $4$ years from today. The investment also will make regular, fixed annual payments If $$66,000\mathrm{.}00$ to Michael with the first of these payments made to Michael in $1$ year from today and the last of these annual payments made to Michael in $4$ years from today. The expected return for the investment is $12$ percent per year. What is $x,$ the amount of the special payment that will be made to Michael in $4$ years?

$$18,902\mathrm{.}75($plus or minus $10$ dollars$)$

$$18,902,75($plus or minus $10$ dollars$)$

$$29,743\mathrm{.}85($plus or minus $10$ dollars$)$

$$92,725\mathrm{.}25($plus or minus $10$ dollars$)$

none of the answers are within $10$ dollars of the correct answer