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Henry Garcia's lifelong dream is to own his own fishing boat to use in his retirement. Henry has recently come into an inheritance of $368,000.
Henry Garcia's lifelong dream is to own his own fishing boat to use in his retirement. Henry has recently come into an inheritance of $368,000. He estimates that the boat he wants will cost $276,000 when he retires in 5 years. Click here to view factor tables How much of his inheritance must he invest at an annual rate of 8% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 5,275.) Investment amount \$
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