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Leon Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Leon has recently come into an inheritance of
Leon Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Leon has recently come into an inheritance of $444,400. He estimates that the boat he wants will cost $312,700 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 10% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to O decimal places, e.g. 458,581.) Investment amount $
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