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Morgan Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Morgan has recently come into an inheritance of $410.900.

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Morgan Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Morgan has recently come into an inheritance of $410.900. He estimates that the boat he wants will cost $334,300 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 4% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, eg, 1.25124 and final answers to 0 decimal places, es. 458,581) Investment amount Chris Quincy wants to withdraw $30,800 each year for 13 years from a fund that earns 10% interest. Click here to view factor tables How much must he invest today if the first withdrawal is at year-end? How much must he invest today if the first withdrawal takes place immediately? (Round factor values to 5 decimal places, es. 1.25124 and final answers to 0 decimal places, es. 458,581.) First withdrawal at year-end First withdrawal immediately $ eTextbook and Media

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