Compounded daily to accumulate money for his down payment

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John plans to buy a vacation home in 6 years from now and wants to have saved $91,024 for a down payment. How much money should he place today in a savings account that earns 8.11 percent per year compounded daily to accumulate money for his down payment?

Please show work. Round the answer to two decimal places.

Reference no: EM13846153

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