Question: Problem 1 4 . 0 4 4 - Calculate the purchasing power with respect to today's dollar You just made an investment in an insurance

Problem 14.044- Calculate the purchasing power with respect to today's dollar
You just made an investment in an insurance policy that is guaranteed to pay you $2.100 million 20 years from now provided you live that long. What will be the purchasing power of that amount with respect to todays dollars if the market interest rate is 8% per year and the inflation rate stays at 3.700% per year over the 20-year period?(Round the final answer to three decimal places.)

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