How much must be deposited today into the following account in order to have $70,000 in 6 years for a down payment on a house? Assume no additional deposits are made. An account with annual compounding and an APR of 4% $55322 016 should be deposited today (Do not round un the final anewer. Then round to the nearest cent as needed.) That's incorrect. Use the compound interest formula, where A is accumulated balance after Y years, Pis starting principal, APR is annual percentage rate (as a decimal), n is number of compounding periods per year, and Y is number of years. Substitute the amounts given and solve for P, the amount that must be invested AP 1+ P1. APR an w an example Get more help- OK vies nshots ology reports d folder Clear all Check answer