In 10 years you are planning to buy a mountain chalet. The chalet you want currently costs $100,000 and is expected to increase in value each year at a rate of 2.5 percent. If you can earn 10% annually on your investments, how much must you invest at the end of each of the next 10 years to be able to buy the chalet? 

a) $6,275 

b) $7,302 

c) $8,032 

d) $20,833 

e) $5,704

Answer rating: 100% (QA)

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