History Bookmarks Window Help 7 mathad.com FINA 3103-Z01 Principles of Finance (Spring 2019) Alicia Gipson ! 3/10/19 1154 P, Homework: HW 6 (Time Value of Money) Score: 0 of 1 pt Problem 5-16 301744 complete, Hw Score: 42.86%, 3 of 7 EQuestion Help Future value of an annuilty) In 14 years you are planning on retiring and buying a house in Oviedo, Florida. The house you are looking at currenty costs 5140,000 and s expected to increase in value each year at a rate of 3 percent. Assuming you can earn 14 percent annually on your investments, how much must you invest at the end of each of the next 14 years to be able to buy your dream home when you retire? . Il house you are lookingateurrently costs $140,000 wd is expected to ierease in vale each year atanate of 3 perem what wil te vate e,the hous. be when you retire in 14 years? $Round to the nearest cent) Enter your answer in the answer box and then click Check Answer bised on Tris coure riNA 31 OO, Principles er Finance OSpring 20190 0 2 4 5