How much money should he place today in a saving account

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Reference no: EM131962896

John plans to buy a vacation home in 11 years from now and wants to have saved $75,022 for a down payment.

How much money should he place today in a saving account that earns 5.16 percent per year (compounded daily) to accumulate money for his down payment?

Round the answer to two decimal places.

Reference no: EM131962896

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