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7. John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Jack has recently come into an inheritance of
7. John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Jack has recently come into an inheritance of $400,000. He estimates that the boat he wants will cost $349,460 when he retires in 5 years. How much of his inheritance must he invest at an annual rate of 10% (compounded annually) to buy the boat at retirement? (Round the answer to 2 decimal places, e.g. 125,250.20. what is the Investment amount? $
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