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Robert wants to have $67,000 in 5 years. He plans to make regular savings contributions of $7,400 per year for 5 years, with the first
Robert wants to have $67,000 in 5 years. He plans to make regular savings contributions of $7,400 per year for 5 years, with the first of these regular savings contributions made in 1 year. He also expects to make a special savings contribution of X in 2 years. He expects to earn 9.60 percent per year. What is X, the amount of the special savings contribution that Robert will make in 2 years? Round your answer to the nearest cent (for example, 123.45 or 98.76).
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