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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.

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.

Money he place today  for... View the full answer

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

Present Value: It is the value at present of any particular cash flow or... View the full answer

The way to answer this question is ... View the full answer

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