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John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $
John Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $ He estimates that the boat he wants will cost $ when he retires in years.
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Assuming quarterly compounding of amounts invested at how much of John Fillmore's inheritance must be invested to have enough at retirement to buy the boat? Round factor values to decimal places, eg and final answer to decimal places, eg
Investment amount
$
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