How much must be deposited today into the following account in order to have 35 000 in 7 years for a down payment on a house

Question

How much must be deposited today into the following account in order to have 35 000 in 7 years for a down payment on a house Assume no additional deposits are made An account with annual compounding and an APR of 5 should be deposited today Do not round until the final answer Then round to the nearest cent as needed

Kunduz · Accepted Answer

Click to see the answer