Question: ent Attempt in Progress John Nobrega is trying to determine the amount to set aside so that he will have enough money on hand

ent Attempt in Progress John Nobrega is trying to determine the amount

ent Attempt in Progress John Nobrega is trying to determine the amount to set aside so that he will have enough money on hand in 2 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 2 years, by conducting some research online, John has developed the following estimates. Probability Assessment Engine Overhaul Estimated Cash Outflow $250 10 % 410 30 % 700 50 % 840 10 % Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. How much should John deposit today in an account earning 6%, compounded annually, so that he will have enough money on hand in 2 years to pay for the overhaul? (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to O decimal places, e.g. 125.) Deposit amount $

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