An investment of $1000 was made 25 years ago. The amount available 10 years from now at
Question:
An investment of $1000 was made 25 years ago. The amount available 10 years from now at the market interest rate of 5% per year and an inflation rate of 2% per year is closest to:
(a) $3085
(b) $5430
(c) $5516
(d) $35,000
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