Xavier's deposit's present amount can be computed using the formula of the annuity.
Present worth = Uniform payment[(1+i)^n-1]/(i(1+i)^n
where
Uniform payment = $6 x 365 =$2190
i= 4.57%
n= 5
Substitute all the given values, we will get
Present worth =$9595.32
The present worth of Xavier's deposit for bathroom renovation would be $9595.32.
