In ten years’ time, your parents plan to buy a house and retire in Byron Bay. The type of house they want currently costs around $500,000 but property prices are expected to increase at a rate of 5% p.a. Assuming they can earn 10% p.a. on their investments, and that they currently have $175,000 saved, how much must they invest at the end of each of the next ten years to be able to retire as planned?

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