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Henry Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Henry has recently come into an inheritance of $406,300.
Henry Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Henry has recently come into an inheritance of $406,300. He estimates that the boat he wants will cost $330,600 when he retires in 5 years. Click here to view factor tables. Assuming quarterly compounding of amounts invested at 10%, how much of Henry Fillmore's 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 answer to 0 decimal places, e.g. 458,581.) LA Investment amount $ 205276
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