QuestionJamal wants to save $\$ 59,000$ for a down payment on a home. How much will he need to invest in an account with 9\% APR, compounding daily, in order to reach his goal in 7 years? Round to the nearest dollar.
He will need to invest \\square$
Question Help: Written Example

Studdy Solution
Round the result to the nearest dollar.
$P \approx 31,313$
Jamal will need to invest \$31,313.

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