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How much of his inheritance must he invest at an annual rate

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Leon fillmors liflong dream is to own his own fishing boat to use in his retirement. Lon has recently come into an inheritance of 437200. he estimates that boat he wants will cost 320700 when he retires in 6 years.

How much of his inheritance must he invest at an annual rate of 9% compounded annually to buy the boat at retirement> what is the investment amount?

Reference no: EM132365844

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