Thank you for the opportunity to help you with your question!

There are 360 days in a year, so n = 360

The formula we use is

A = P(1 + r/n)^nt where r is the annual interest rate and n is the number of times the interest is compounded in a year. A is the final amount and P is the principle or initial amount.

Then,

20,000 = P(1 + 0.06/360)^(360*8)

20,000 = P(1.00067)^2880

20,000 = P(6.8153)

P = 20,000/6.8153

P = $2934.58

Please let me know if you need any clarification. I'm always happy to answer your questions.