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Jim found his dream vacation home, valued at $250,000. He plans to buy a home just like it when he retires in 16 years. Jim
Jim found his dream vacation home, valued at $250,000. He plans to buy a home just like it when he retires in 16 years. Jim can earn 13% per year on his investments. The price of the house will increase 5% per year for the next 16 years. How much must he invest at the end of each of the next 16 years to finance the purchase?
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