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' X Youranswerisincorrect. John Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 4
' X Youranswerisincorrect. John 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, John has developed the following estimates. Engine Overhaul Probability Estimated Cash Outow Assessment $270 10% 630 30% 750 50% 870 10% Click here to view factor tables. How much should John 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, as. 1.25124 and nal answer to 0 decimal places, eg. 458,581.) Deposit amount $ 491
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