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Alan Bowie is trying to determine the amount to set aside...

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Accounting

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Alan Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 3 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 3 years, by conducting some research online, Alan has developed the following estimates. Click here to view factor tables: How much should Alan Bowie deposit today in an account earning 8\%, compounded annually, so that he will have enough money on hand in 3 years to pay for the overhaul? (Round foctor values to 5 decimal ploces, 48.125124 and final answer to 0 decimal places, es. 458,581.)

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