Question: Accumulating a growing future sum Personal Finance Problem A retirement home at Deer Tral Estates now costs $199,000 Inflation is expected to cause this price

 Accumulating a growing future sum Personal Finance Problem A retirement home

Accumulating a growing future sum Personal Finance Problem A retirement home at Deer Tral Estates now costs $199,000 Inflation is expected to cause this price to increase at 5% per year over 23 years before C. L. Donovan retires. If Donovan earns 11% on his investments, ow large must an equal, end-of-year deposit must be to provide the cash needed to buy the home 23 years from now? The equal, annual ond-of-your deposit to be modo each year to the accounts. Round to the nearest cent)

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