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Chris Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Chris has recently come into an inheritance of $401,800.
Chris Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Chris has recently come into an inheritance of $401,800. He estimates that the boat he wants will cost $323,100 when he retires in 5 years. Click here to view factor tables Assuming quarterly compounding of amounts invested at 12%, how much of Chris 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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