Tim expects to make a special savings contribution of 10000, Financial Management

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Tim expects to make a special savings contribution of 10000

Tim wants to have 106,401 dollars in 4 years from today. He expects to earn a return of 3 percent per year. Tim plans to make regular savings contributions of X per year for 4 years, with the first of these regular savings contributions made later today. In addition, Tim expects to make a special savings contribution of 10,000 dollars in 2 years from today. What is X, the amount of Tim’s regular savings contribution?

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Financial Management: Tim expects to make a special savings contribution of 10000

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