Question: Suppose you start saving today for a $70,000 down payment that you plan to make on a house in 7 years. Assume that you make

Suppose you start saving today for a $70,000 down payment that you plan to make on a house in 7 years. Assume that you make no deposits into the account after the inital deposit. For the account described below, how much would you have to depostit now to reach your $70,000 goal in 7 years?

An account with daily compounding and an APR of 5%

You should invest $__

(Do not round until the final answer. Then round to two decimal places as needed)

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