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John plans to buy a vacation home in 10 years from now and wants to have saved $94,111 for a down payment. How much money should he place today in a saving account that earns 3.06 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal place

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John plans to buy a vacation home in 10 years from now and wants to

have saved $94,111 for a down payment. How much money should he place today in a saving account that earns 3.06 percent per year (compounded daily) to accumulate money for his down payment? Round the answer to two decimal place

 
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