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Question 4 of 4 -12 E Current Attempt in Progress Tony Bowie is trying to determine the amount to set aside so that he will
Question 4 of 4 -12 E Current Attempt in Progress Tony Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 2 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhaulsin 2 years, by conducting some research online, Tony has developed the following estimates Engine Overhaul Estimated Cash Outflow $310 510 740 Probability Assessment 10% 30% 50% 1096 880 Click here to view factor tables How much should Tony Bowie deposit today in an account earning 8%.compounded annually, so that he will have enough money on hand in 2 years to pay for the overhaul? (Round factor values to 5 decimal places, eg: 1.25124 and final answer to decimal places 458,581) o BE
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