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N Accumulating a growing future sum Personal Finance Problem A retirement home at Deer Trail...

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N Accumulating a growing future sum Personal Finance Problem A retirement home at Deer Trail Estates now costs $172,000. Inflation is expected to use this price to increase at 4% per year over the 16 years before C. L. Donovan retiros. Donovan carns 11% on his investments, ow large must an equal, end-of-year deposit must be to provide the cash needed to buy the home 16 years from now? The equal, annual end-of-year deposit to be made each your into the account is $(Round to the nearest cont)

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