Use this scenario on this and the next problem. Tobias received an inheritance from his grandfather of $20,000. When he gets out of
college in 4 years he wants to use it as a down payment on a piece of lakeside property,
If he puts all the money in a savings account paying 6.5% interest compounded daily,
how much money will be in the account at the end of the four years to use as the down
payment on the property?