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Please assist with the formula. John plans to buy a vacation home in 3 years from now and wants to have saved $53,142 for a down payment.

Please assist with the formula.


 

John plans to buy a vacation home in 3 years from now and wants to have saved $53,142 for a down payment. How much money should he place today in a saving account that earns 7.66 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal places.

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1 comment
  • kindly ignore my answer made a mistake in period / n calculation
    • payaljain3
    • Jun 03, 2018 at 11:32pm

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