Question: Morgan Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 3 years to overhaul

Morgan 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, Morgan has developed the following estimates. Engine Overhaul Estimated Cash Outflow Probability Assessment $370 10% 610 30% 720 50% 830 10% Click here to view factor tables How much should Morgan 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 s decimal places, e.3. 1.25 124 and final answer to o decimal places, c.9.458,581.) Deposit amount $

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