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1. Suppose you deposit $1,039.00 into an account 4.00 years from today. Exactly 17.00 years from today the account is...

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1. Suppose you deposit $1,039.00 into an account 4.00 years from today. Exactly 17.00 years from today the account is worth $1,571.00. What was the account's interest rate?

2. Assume the real rate of interest is 4.00% and the inflation rate is 3.00%. What is the value today of receiving 14,063.00 in 15.00 years?

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Answer rating: 100% (QA)

What was the account s interest rate To find the interest rate you can use the formula for compou View the full answer


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Personal Finance

Personal Finance

ISBN: 978-1133595830

12th edition

Authors: Thomas Garman, Raymond Forgue

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Posted Date: September 08, 2023 03:45:54
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