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Question 14 of 20 Current Attempt in Progress - /0.65 # Adams Bowie is trying to determine the amount to set aside so that
Question 14 of 20 Current Attempt in Progress - /0.65 # Adams Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 4 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 4 years, by conducting some research online. Adams has developed the following estimates Engine Overhaul Estimated Cash Outflow Probability Assessment $270 10% 630 30% 750 50% 870 10% Click here to view factor tables How much should Adams Bowie deposit today in an account earning 8%, compounded annually, so that he will have enough money on hand in 4 years to pay for the overhaul? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, es 458,581) Deposit amount
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