homework 3.9

(Annuity payments) You plan to retire in 9 years and buy a house in Oviedo, Florida. The house you are looking at currently costs $150,000 and is expected to increase in value each year at a rate of 3 percent. Assuming you can eam 9 percent annually on your investments, how much must you invest at the end of each of the next 9 years to be able to buy your dream home when you retire? a. If the house you are looking at currently costs $150,000 and is expected to increase in value each year at a rate of 3 percent, what will the value of the house be when you retire in 9 years? SL (Round to the nearest cent)