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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 $419,800.

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 $419,800. He estimates that the boat he wants will cost $332,800when he retires in5years.

Assuming quarterly compounding of amounts invested at12%, how much of Leon Fillmore's inheritance must be invested to have enough at retirement to buy the boat?

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