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Leon Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Leon has recently come into an inheritance of $403,900.
Leon Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Leon has recently come into an inheritance of $403,900. He estimates that the boat he wants will cost $341,600 when he retires in 5 years. Click here to view factor tables Assuming quarterly compounding of amounts invested at 12%, how much of Leon Fillmores 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 answers to 0 decimal places, e.g. 458,581.)
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