Your family plans to retire in Phoenix, AZ in 20 years. Currently, a typical home that pleases your family costs $200,000, but they expect inflation to increase the price of the home by 4% over the next 20 years. To buy a house after retirement, what should they save in equal annual year-end deposits each year if they can earn 10% annually?

Answer rating: 100% (QA)

To calculate the equal annual yearend deposits required to buy the house in Phoenix we need to find ... View the full answer