Question: Suppose you deposit $ 1 , 4 0 1 . 0 0 into and account 8 . 0 0 years from today into an account

Suppose you deposit $1,401.00 into and account 8.00 years from today into an account that earns 6.00%. How much will the account be worth 16.00 years from today?
Assume the nominal rate of return is 11.42% and the inflation rate is 3.09%. Find the real rate of return using the exact formula.

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