Question: Current Attempt in Progress Steve Bowie is trying to determine the amount to set aside so that he will have enough money on hand in

 Current Attempt in Progress Steve Bowie is trying to determine the

Current Attempt in Progress Steve 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, Steve has developed the following estimates Engine Overhaul Estimated Cash Probability Outflow Assessment $370 10% 30% 720 50% 830 10% 4 610 Click here to view factor tables How much should Steve Bowie deposit today in an account earning 9%, compounded annually, so that he will have enough money on hand in 3 years to pay for the overhaul? (Round factor values to 5 decimal places, eg. 1.25124 and final answer to O decimal places, eg. 458,581) Deposit amount $

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