How much money needs to be set aside every year, Finance Basics

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How much money needs to be set aside every year

Problem

How much money needs to be set aside every year, for the next 7 years, to purchase a new office? The money is expected to earn 8% interest compounded annually and yearly inflation is expected to be 3%. The present cost of the house is $250,000.

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Finance Basics: How much money needs to be set aside every year

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Finance Basics: How much money needs to be set aside every year

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