How large are an equal annual end - of - year deposit must


A ski chalet at Peak n' Peak now costs $250,000. Inflation is expected to cause this price to increase at 5% per year over the next 10 years before Chris and Julie retire from successful investment bankign careers. How large are an equal annual end - of - year deposit must be made into an account paying an annual rate of interest of 13% in order to buy the ski chalet upon retirement?

A. $22,109
B. $25,005
C. $8,333
D. $13,572

 

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Finance Basics: How large are an equal annual end - of - year deposit must
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