Question: Suppose you start saving today for a $70,000 down payment that you plan to make on a house in 8 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 8 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 70,000 goal in 8 years. An account with daily compounding and an APR of 4%

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