Find how much must invest at end of each of next ten years

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Problem 1: In 10 years, you plan to retire and buy a house in Marco Island, Florida. The house you are looking at currently costs $125,000 and is expected to increase in value each year at a rate of 5%. Assuming you can earn 10% annually on your investment, how much must you invest at the end of each of the next 10 years to be able to buy your dream home when you retire?

Reference no: EM132645175

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