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Suppose you start saving today for a $25,000 down payment that you plan to make on a house in 5 years. Assume that you
Suppose you start saving today for a $25,000 down payment that you plan to make on a house in 5 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 $25,000 goal in 5 years. An account with daily compounding and an APR of 6% You should invest $ (Do not round until the final answer. Then round to two decimal places as needed.)
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