(Solution) - A retirement home at West Island Estates now costs US 185 000 -(2025 Original AI-Free Solution)

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A retirement home at West Island Estates now costs US$185,000. Inflation is expected to cause this price to increase at 6 percent per year over the 20 years before Shawqi Dalal retires. How large an equal, annual, end- of-year deposit must be made each year into an account paying an annual interest rate of 10 percent for Shawqi to have the cash needed to purchase a home at retirement?