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Newman Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Newman has recently come into an inheritance of $445,400.
Newman Fillmore's lifelong dream is to own his own fishing boat to use in his retirement. Newman has recently come into an inheritance of $445,400. He estimates that the boat he wants will cost $348,100 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 6% (compounded annually) to buy the boat at retirement? (Round factor values to 5 decimal places, e.g. 1.251 24 and final answers to 0 decimal places, e.g. 458,581.) Investment amount
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