You want to have $3.5 million in real dollars in an account when you retire in 50

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You want to have $3.5 million in real dollars in an account when you retire in 50 years. The nominal return on your investment is 8 percent and the inflation rate is 3.5 percent. What real amount must you deposit each year to achieve your goal?

A. $20,569.90

B. $6,100.00

C. $21,598.40

D. $21,392.70

E. $19,541.41

Related Book For answer-question

Fundamentals of corporate finance

ISBN: 978-0078034633

10th edition

Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan

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Posted Date: Dec 15, 2020 01:49 AM

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You want to have $3.5 million in real dollars in an account when you retire in 50

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Fundamentals of corporate finance

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