(Annuity payments) You plan to retire in 7 years and buy a house in Oviedo, Florida. The house you are looking at currently costs $80,000 and is expected to increase in value each year at a rate of 6 percent. Assuming you can eam 11 percent annually on your investments, how much must you invest at the end of each of the next 7 years to be able to buy your dream home when you retire? a. If the house you are looking at currently costs $80,000 and is expected to increase in value each year at a rate of 6 percent, what will the value of the house be when you retire in 7 years? $120290.42 (Round to the nearest cent.) b. Assuming you can earn 11 percent annually on your investments, how much must you invest at the end of each of the next 7 years to be able to buy your dream home when you retire? (Round to the nearest cent.)