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

$173,000.

Inflation is expected to cause this price to increase at

5%

per year over the

24

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

24

years from now?