How much must be deposited today into the following account in order to have $50,000 in 5 years for a down payment on a house?

Question

How much must be deposited today into the following account in order to have $50,000 in 5 years for a down payment on a house? Assume no additional deposits are made. An account with annual compounding and an APR of 6%

Kunduz · Accepted Answer

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