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Said want to buy a jeep in 10 years when he retires. He will buy using from the sale of his small hut which is
Said want to buy a jeep in 10 years when he retires. He will buy using from the sale of his small hut which is worth 120,000 and its value is growing at 8% a year. The jeep now is worth 240,000 and value increasing at 5% per year. In addition to the value of the small hut, how much additional money should Said deposit at the end of each year in an account paying 8% annual interest in order to buy the jeep upon retirement?
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