Bingo Binks 's portfolio earned an 8 average compound annual return over an 8 year period The average compound annual inflation rate during this period was 4 Bingo 's portfolio was worth $15,000 at the beginning of the period At the end of the period, what was the portfolio worth, expressed in beginning of period dollars

Question: Bingo Binks's portfolio earned an 8% average compound annual return over an 8-year period. The average compound annual inflation rate during this period was 4%.

Bingo Binks's earned an 8% average compound annual return over an 8-year period. The average compound annual inflation rate during this period was 4%. Bingo's was worth $15,000 at the beginning of the period. At the end of the period, what was the worth, expressed in beginning-of-period dollars?

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