If the rate of inflation averages 2.4% compounded monthly, how many dollars will you need 40 years

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If the rate of inflation averages 2.4% compounded monthly, how many dollars will you need 40 years from now to have the same purchasing power as $1,000,000 today?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:40 AM

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If the rate of inflation averages 2.4% compounded monthly, how many dollars will you need 40 years

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If the inflation rate is 24 compounded monthly you will need FV PV1 r ...View the full answer

Business Mathematics In Canada

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