Current Attempt in Progress

A multinational company begins operations in a country with a developing economy. It will invest $$2,500,000$ to begin operations and

will pay operating costs $$230,000$ in year $1.$ Annual operating costs are expected to rise by $2\%$ due to the growing strength of the

country's currency. How much would the company need to set aside to cover the costs described above over the next $4$ years assuming

money was invested in an account that earned $6\%$ annual interest?

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$

million

Carry all interim calculations to $5$ decimal places and then round your final answer to $3$ decimal places. Please enter your answers in

millions of dollars. The tolerance is $+-0\mathrm{.}005.$