Future value of an annuity

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Reference no: EM131954149

?(Future value of an annuity?) In 5 years you are planning on retiring and buying a house in? Oviedo, Florida. The house you are looking at currently costs ?$100,000 and is expected to increase in value each year at a rate of 2 percent. Assuming you can earn 14 percent annually on your? investments, how much must you invest at the end of each of the next 5 years to be able to buy your dream home when you? retire?

a. If the house you are looking at currently costs ?$100,000 and is expected to increase in value each year at a rate of 2 ?percent, what will the value of the house be when you retire in 5 ?years? ?$ ____ ?(Round to the nearest? cent.)

Reference no: EM131954149

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