Nick has lost faith in the banks and has decided to diversify his portfolio by keeping some
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Nick has lost faith in the banks and has decided to diversify his portfolio by keeping some money under his mattress. He decides to put $3500 under his mattress and $2500 in a GIC with a 6% annual interest rate (compounded continuously). If there is a 4% annual inflation rate, when will the real value of Nick's investments be at a minimum?
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