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two parts to question P6-9 (similar to) Question Help (Annuity payments) You plan to...

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P6-9 (similar to) Question Help (Annuity payments) You plan to retire in 13 years and buy 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 15 percent annually on your investments, how much must you invest at the end of each of the next 13 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 13 years? (Round to the nearest cent.)

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