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You plan to retire in 10 years and buy a house in Florida. The house you are looking at currently costs $180,000 and is expected
You plan to retire in 10 years and buy a house in Florida. The house you are looking at currently costs $180,000 and is expected to increase in value each year at a rate of 5 percent. Assuming you can earn 10 percent annually on your investments, how much must you invest at the end of each of the next 10 years to buy your dream house when you retire? (Hint: How much will the house cost when you are prepared to purchase it?)
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