How much money should he place today in a saving account

Reference no: EM133557587

Question: John plans to buy a vacation home in 14 years from now and wants to have saved $64,703 for a down payment. How much money should he place today in a saving account that earns 4.96 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal places

Reference no: EM133557587

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