Question: Suppose you start saving today for a $50,000 down payment that you plan to make on a house in 7 years. Assume that you make

Suppose you start saving today for a $50,000 down payment that you plan to make on 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 $50,000 goal in 7 years.

An account with daily compounding and an APR of 4%

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