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Chris Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Chris has recently come into an inheritance of $410,000.
Chris Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Chris has recently come into an inheritance of $410,000. He estimates that the boat he wants will cost $323,200 when he retires in 7 years. Click here to view factor tables How much of his inheritance must he invest at an annual rate of 10% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to O decimal places, e.g. 458,581.) Investment amount $ e Textbook and Media
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