Question: I need help solving this problem. please show me all steps so I will know how to the problem in the future. Suppose you start

I need help solving this problem.

please show me all steps so I will know how to the problem in the future.

Suppose you start saving for a $55,000 down payment that you plan to make in a house in 7 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 $55,000 goal in 7 years.

An account with daily compounding and APR of 4%.

You should invest how much?

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