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John plans to buy a vacation home in 4 years from now and wants to have saved $85,414 for a down payment. How much money

John plans to buy a vacation home in 4 years from now and wants to have saved $85,414 for a down payment. How much money should he place today in a saving account that earns 5.93 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal places.

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