How much money should he place today in a saving account, Financial Management

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How much money should he place today in a saving account

John plans to buy a vacattion home in 6 years from now and wants to have saved $98.97 for a down payment, How much money should he place today in a saving account that earns 9.79 percent per year (compounded daily ) to accumulate money for his down payment?

Round anwer to two decimal places.

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Financial Management: How much money should he place today in a saving account

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