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PROBLEM 2 A retirement home costs now 85,000. Inflation will increase the price by 6% annually over the 20 years when John retires. How much

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PROBLEM 2 A retirement home costs now 85,000. Inflation will increase the price by 6% annually over the 20 years when John retires. How much should John invest each year in order to be able to purchase the house in 20 years (Assume he can earn 10 % return on his investments compounded annually)

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