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Sarah found her dream lakefront home, valued at $250,000. She plans to buy a home just like it when ...

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Sarah found her dream lakefront home, valued at $250,000. She plans to buy a home just like it when ...

Sarah found her dream lakefront home, valued at $250,000. She plans to buy a home just like it when she retires in 15 years. Sarah can earn 11% per year on her investments. The price of the house will increase 3% per year for the next 15 years. How much must she invest at the end of each of the next 15 years to finance the purchase?
A) $11,320.67
B) $7,266.31
C) $8,952.82
D) $10,198.81
E) $12,565.95

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Corporate Finance Online

Edition: 1^st

Authors: Eakins, McNally

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We're using: Corporate Finance Online (Eakins, McNally)

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More solutions for this book are available here

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Pol. Sci. Major
Minoring in Business
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bigexternal Author

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7 years ago

I was skeptic but after double checking it checks out, thanks

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We're using: Corporate Finance Online (Eakins, McNally)

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