Question
1. Suppose you deposit $1,039.00 into an account 4.00 years from today. Exactly 17.00 years from today the account is worth $1,571.00. What was the
1. Suppose you deposit $1,039.00 into an account 4.00 years from today. Exactly 17.00 years from today the account is worth $1,571.00. What was the account's interest rate?
2. Assume the real rate of interest is 4.00% and the inflation rate is 3.00%. What is the value today of receiving 14,063.00 in 15.00 years?
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What was the accounts interest rate To find the interest rate you can use the formula f...
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Personal Finance
Authors: Thomas Garman, Raymond Forgue
12th edition
9781305176409, 1133595839, 1305176405, 978-1133595830
