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14) A retirement home at Deer Trail Estates now costs $132,000. Inflation is expected to cause this price to increase at 44% per year over
14) A retirement home at Deer Trail Estates now costs $132,000. Inflation is expected to cause this price to increase at 44% per year over the 22 years before C. L. Donovan retires. If Donovan earns 88% on his investments, ow large must an equal, end-of-year deposit must be to provide the cash needed to buy the home 22 years from now?
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