Question: Bernard wants to have $ 2 0 2 , 1 8 7 . 3 3 in 8 years. He plans to make regular savings contributions

Bernard wants to have $202,187.33 in 8 years. He plans to make regular savings contributions of $12,500.00 per year for 8 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 17.15 percent per year. What is X, the amount of the special savings contribution that Bernard will make in 2 years

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!