Calculate the investment - apr 4 percent, Mathematics

Suppose you start saving today for a $55,000 down payment that you plan to make on a house in 7 years,  assume that you make no deposits into the account after the initial deposit, for the account described below, how much would you need to deposit now to reach your goal of $55,000 in 7 years?   The account as daily compounding and an APR of 4%,  How much should you invest?

Posted Date: 2/28/2013 5:40:56 AM | Location : United States







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