Suppose you start saving today for a $45,000 down payment that you plan to make on a house in 6 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $45,000 goal in 6 years. An account with daily compounding and an APR of 4% D You should invest $ (Do not round until the final answer. Then round to two decimal places as needed.)

Suppose you start saving today for a $45,000 down payment that you plan to make on a house in 6 years. Assume that you make no deposits into the account after the initial deposit. For the account described below, how much would you have to deposit now to reach your $45,000 goal in 6 years. An account with daily compounding and an APR of 4% D You should invest $ (Do not round until the final answer. Then round to two decimal places as needed.)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter11: Capital Budgeting Decisions

Section: Chapter Questions

Problem 3PB: Use the tables in Appendix B to answer the following questions. A. If you would like to accumulate...

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