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Accumulating a growing future sumPersonal Finance Problem A retirement home at Deer Trail Estates now costs $ 128,000. Inflation is expected to cause this price

Accumulating a growing future sumPersonal Finance Problem

A retirement home at Deer Trail Estates now costs $ 128,000. Inflation is expected to cause this price to increase at 7% per year over the 18 years before C. L. Donovan retires. If Donovan earns 9% on his investments, ow large must an equal, end-of-year deposit must be to provide the cash needed to buy the home 18 years from now?

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