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( Future value of an annuity ) In 9 years, you are planning on retiring and buying a house in Oviedo, Florida. The house you
Future value of an annuity In years, you are planning on retiring and buying a house in Oviedo, Florida. The house you are looking at currently costs $ and is expected to increase in value
each year at a rate of percent. Assuming you can earn percent annually on your investments, how much must you invest at the end of each of the next years to be able to buy your dream home
when you retire?
a If the house you are looking at currently costs $ and is expected to increase in value each year at a rate of percent, what will the value of the house be when you retire in years?
Round to the nearest cent.
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