You want to retire 32 years from today and buy a beach house in Costa Rica. Today, those houses sell for $267,000 and are expected to increase in price by 2.3% per year. To pay for the house, you will deposit a fixed amount of money at the end of each of the next 32 years into an account that pays 8.1% interest annually.

What is the amount of your annual deposit?

Answer rating: 100% (QA)

To find the future value of the house we use the formula for future value ... View the full answer