John had $50,000 in salary this year. If this salary is increasing 4 percent annually and inflation

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John had $50,000 in salary this year. If this salary is increasing 4 percent annually and inflation is projected to rise 3 percent per year, calculate the amount of return he will receive in nominal and real dollars in the fifth year?

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Personal Financial Planning

ISBN: 978-1259277184

2nd edition

Authors: Lewis J. Altfest

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Question Posted: May 05, 2017 10:14 AM

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John had $50,000 in salary this year. If this salary is increasing 4 percent annually and inflation

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