Question: Question 4 View Policies Current Attempt in Progress Tony Bowie is trying to determine the amount to set aside so that he will have enough

 Question 4 View Policies Current Attempt in Progress Tony Bowie is

Question 4 View Policies Current Attempt in Progress Tony Bowie is trying to determine the amount to set aside so that he will have enough money on hand in 4 years to overhaul the engine on his vintage used car. While there is some uncertainty about the cost of engine overhauls in 4 years, by conducting some research online, Tony has developed the following estimates. Probability Assessment Engine Overhaul Estimated Cash Outflow $240 600 800 800 10% 30% 50% 10% Click here to view factor tables How much should Tony Bowie deposit today in an account earning 8%, compounded annually, so that he will have enough money on hand in 4 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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