John fillmorersquos lifelong dream is to own his own


John Fillmore’s lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $446,300. He estimates that the boat he wants will cost $324,500 when he retires in 6 years. Assuming quarterly compounding of amounts invested at 8%, how much of John Fillmore’s inheritance must be invested to have enough at retirement to buy the boat?

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Financial Management: John fillmorersquos lifelong dream is to own his own
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