Leon Fillmores lifelong dream is to own his own fishing boat to use in his...
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Leon Fillmores lifelong dream is to own his own fishing boat to use in his retirement. Leon has recently come into an inheritance of $448,600. He estimates that the boat he wants will cost $321,200 when he retires in 5 years. Assuming quarterly compounding of amounts invested at 12%, how much of Leon Fillmores inheritance must be invested to have enough at retirement to buy the boat?
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