Accumulating a growing future sumPersonal Finance ProblemA retirement home at Deer Trail Estates now costs

$135,000.

Inflation is expected to cause this price to increase at

6%

per year over the

23

years before C. L. Donovan retires. If Donovan earns

11%

on his investments, ow large must an equal, end-of-year deposit must be to provide the cash needed to buy the home

23

years from now?