Question: You expect to have $ 8 6 0 , 0 9 9 in 1 6 years. You plan to make regular savings contributions of $X

You expect to have $860,099 in 16 years. You plan to make regular savings contributions of $X per year for 16 years and a special savings contribution of $14,700 in 5 years. The expected return is 6.28 percent per year and the first regular savings contribution will be made in 1 year. What is X?

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