A piece of beachfront real estate is currently valued at $$190,000.$ You don$$t have the money to purchase the real estate now but the owner has committed to sell it to you in $3$ years for the $$190,000$ PLUS $5\%$ appreciation in price each year. A$)$ How much are you going to have to pay for the property in $3$ years time if you agree to pay the owner her $$190,000$ PLUS the $5\%$ appreciation per year? B$)$ Let$$s say you currently have $$130,000$ in savings and you hope to be able to contribute $$20,000$ annually to your purchase funds. What type of return are you going to have to achieve over the $3$ year period in order to reach your required amount calculated in Part A$?$

Please show the steps and formulas used, not just what was plugged into a calculator or excel. This is an Advanced Fiance course and we are discussing Time Value of Money. What additional information is needed?