HoodieKing HoodieKing

23-09-2022
Mathematics

Answered

How much must be deposited today into the following account in order to have $55,000 in 8 years for a down payment on a house? Assume no additional deposits are made
An account with annual compounding and an APR of 4%
5
should be deposited today.
(Do not round until the final answer. Then round to the nearest cent as needed.)

Answer :

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