deposit amount: $____

Newman Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 4 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 4 years, by conducting some research online, Newman has developed the following estimates. Engine Overhaul Estimated Cash Outflow Probability Assessment $270 10% 490 30% 770 50% 970 10% Click here to view factor tables How much should Newman Bowie deposit today in an account earning 9%, compounded annually, so that he will have enough money on hand in 4 years to pay for the overhaul? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to 0 decimal places, eg. 458,581.)