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How do you solve this using a financial calculator? N=? PV=? i=? PMT=? FV=? Henry Fillmore's lifelong dream is to own his own fishing boat
How do you solve this using a financial calculator?
N=?
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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 $405,000. He estimates that the boat he wants will cost $328,500 when he retires in 6 years. Click here to view factor tables How much of his inheritance must he invest at an annual rate of 11% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.) Investment amountStep by Step Solution
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