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Planning to retire and buy a house in gold coast

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In 10 years you are planning to retire and buy a house in Gold Coast, Queensland. The house you are looking at currently costs $1,000,000.00 and it is expected to increase in value each year at a rate of 5%. Assuming that you can earn 10% annually on your investments, how much must you invest at the end of each of the next 10 years to be able to buy your home when you retire?

Reference no: EM131388141

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