Question: Nancy Jackson expects to need $47,000 for a down payment on a house in six years. How much would she have to invest today in

Nancy Jackson expects to need $47,000 for a down payment on

Nancy Jackson expects to need $47,000 for a down payment on a house in six years. How much would she have to invest today in an account paying 6.25 percent in order to have $47,000 in six years? (Do not round intermediate calculations. Round answer to 2 decimal places, e.g. 52.75.) Present value

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