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John Fillmores lifelong dream is to own his own fishing boat to use in his...

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Accounting

John Fillmores lifelong dream is to own his own fishing boat to use in his retirement. John has recently come into an inheritance of $400,000. He estimates that the boat he wants will cost $300,000 when he retires in 5 years Assuming annual compounding of amounts invested at 8%, how much of John Fillmores inheritance must be invested to have enough at retirement to buy the boat?

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