John plans to buy a vacation home in 11 years from now and, Ask an Expert

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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.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92800553

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