John fillmorersquos lifelong dream is to own his own, Ask an Expert

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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, Finance

Category:- Financial Management
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