You want to have $2.6 million in real dollars in an account when you retire in 40
Question:
You want to have $2.6 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 10.8 percent and the inflation rate is 3.7 percent. What real amount must you deposit each year to achieve your goal?
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We first need to find the real interest rate on the savings Using ...View the full answer
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Related Book For 
Fundamentals of Corporate Finance
ISBN: 978-0077861704
11th edition
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
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