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Sarah wants to have $100,000 in 5 years. She plans to make regular savings contributions of $13,000 per year for 3 years, with the first
Sarah wants to have $100,000 in 5 years. She plans to make regular savings contributions of $13,000 per year for 3 years, with the first of these regular savings contributions made in 1 year from today. She also expects to make a special savings contribution of $X in 3 years. she expects to earn 17.2% per year. How much does Sarah have to contribute in the special payment to meet her goal (What is X)?
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