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Morgan Garcia's lifelong dream is to own his own fishing boat to use in his retirement. Morgan has recently come into an inheritance of
Morgan Garcia's lifelong dream is to own his own fishing boat to use in his retirement. Morgan has recently come into an inheritance of $360,000. He estimates that the boat he wants will cost $270,000 when he retires in 4 years. Click here to view factor tables Assuming quarterly compounding of amounts invested at 8%, how much of Morgan Garcia's inheritance must be invested to have enough at retirement to buy the boat? (Round factor values to 5 decimal places, eg. 1.25124 and final answers to O decimal places, es 5,275) Investment amount $ 262242
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