In 6 years you are planning on retiring and buying a house in Oviedo, Florida. The house you are looking at currently costs $140,000 and is expected to increase in value each year at a rate of 4 percent. Assuming you can earn 9 percent annually on your investments, how much must you invest at the end of each of the next 6 years to be able to buy your dream home when you retire?

a. If the house you are looking at currently costs $140,000 and is expected to increase in value each year at a rate of 4 percent, what will the value of the house be when you retire in 6 years?

b. Assuming you can earn 9 percent annually on your investments, how much must you invest at the end of each of the next 6 years to be able to buy your dream home when you retire?