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Te. -Term 1 Time Remaining: 01:14:33 Submit Test This Question: 1 pt 3 of 10 (O complete) This Test: 10 pts possib Inflation, time value, and annual deposits Personal Finance Problem While vacationing in Florida, John Kelley saw the vacation home of his dreams. It was listed with a sale price of $230,000. The only catch is that John is 35 years old and plans to continue working until he is 65. John believes that prices generally increase at the overall rate of inflation and that he can earn 12% on his investments. He is willing to invest a fixed amount at the end of each of the next 30 years to fund the cash purchase of such a house (one that can be purchased today for $230,000) when he retires a. Inflation is expected to average 3% a year for the next 30 years. What will John's dream house cost when he retires? b. How much must John invest at the end of each of the next 30 years to have the cash purchase price of the house when he retires? c. If John invests at the beginning instead of at the end of each of the next 30 years, how much must he invest each year? a. When he retires John's dream house will cost $(Round to the nearest cent.) b. The amount John must invest at the end of each of the next 30 years to have the cash purchase price of the house when he retires is (Round to the nearest cent) c. John invests at the beginning instead of at the end of each of the next 30 years, the amount he must invest each year is 5 (Round to the nearest cent) Enter your answer in each of the answer boxes Type here to search R - 40 10:42 PM 4/25/2021