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John plans to buy a vacation home in 9 years from now

/in /by

John plans to buy a vacation home in 9 years from now and wants to
have saved $88,821 for a down payment. How much money should he place today in a saving account that earns 5.78 percent per year (compounded daily) to accumulate money for his down payment?

Round the answer to two decimal places

 
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