How much money do you have to put into a bank account that pays 10% interest compounded

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How much money do you have to put into a bank account that pays 10% interest compounded annually to receive perpetual annual payments of $200 in today’s dollars if the rate of inflation is 5%?

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Microeconomics

ISBN: 978-0134519531

8th edition

Authors: Jeffrey M. Perloff

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Question Posted: Nov 12, 2018 07:41 AM

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How much money do you have to put into a bank account that pays 10% interest compounded

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Microeconomics

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