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Bowie is trying to determine the amount to set aside so that he will have money on hand in 3 years to overhaul the engine
Bowie is trying to determine the amount to set aside so that he will have money on hand in 3 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 3 years, by conducting some research John has developed the following estimates. How much should John Bowle deposit today in an account earring 63%, compounded annually so that he will have enough money on hand in 3 year to pay for the overhaul?(Round factor values of 5 decimal places, e. g 1.25124 e.g. 458, 581.)
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