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Adams Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Adams has recently come into an inheritance of $439,600.
Adams Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Adams has recently come into an inheritance of $439,600. He estimates that the boat he wants will cost $320,800 when he retires in 5 years. Click here to view factor tables Assuming quarterly compounding of amounts invested at 10%, how much of Adams Fillmores inheritance must be invested to have enough at retirement to buy the boat? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
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