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John plans to buy a vacation home in 10 years from now and

Question - John plans to buy a vacation home in 10 years from now and wants to have saved $60,196 for a down payment. How much money should he place today in a saving account that earns 7.90 percent per year (compounded daily) to accumulate money for his down payment?

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Accounting Basics: John plans to buy a vacation home in 10 years from now and

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