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Sarah wants to have $136,795 in 8 years. She plans to make regular savings contributions of $8,291 per year for 4 years, with the first
Sarah wants to have $136,795 in 8 years. She plans to make regular savings contributions of $8,291 per year for 4 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 $X in 5 years. she expects to earn 16.61% per year. How much does Sarah have to contribute in the special payment to meet her goal (What is X)? Answer Format: ENTER YOUR ANSWER AS A POSITIVE NUMBER INCLUDE ONLY NUMBERS AND DECIMALS IN YOUR ANSWER. Do not include "$""," or any other formatting. Carry computation to at least 4 decimals and round your final answer to 2 decimal places. ######.##
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