Solve this economic Q) If you need $40,000 five years from now, what is the minimum amount of money you need to deposit into a bank account that pays 4% annual interest, compounded (give your answers...

Solve this economic

Q) If you need $40,000 five years from now, what is the minimum amount of money you need to deposit into a bank account that pays 4% annual interest, compounded (give your answers to the nearest cent): (a) annually? $ (b) monthly? $ (c) daily (assuming 365 days in a year)? $