How much must you invest each year in order to buy the house

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Reference no: EM132057132

Question

You and your wife would like to retire to a house in 20 years. A house costs 150000. You expect the price to increase at the rate of inflation or 3% per year.

If you can earn 10% /year, how much must you invest each year in order to buy the house for cash in 20 years.

Reference no: EM132057132

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