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$1000 is deposited into an account earning an annual nominal rate of interest of 8% compounded semi-annually. After 10 years the accumulated value in the
$1000 is deposited into an account earning an annual nominal rate of interest of 8% compounded semi-annually. After 10 years the accumulated value in the account is A. If the annual effective rate of inflation over the time period is 5% then the accumulated value in real terms is B. Find the ratio A/B. Answer to 3 decimal places Step by Step Solution
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Analysis Of Financial Data
Authors: Gary Koop
1st Edition
0470013214, 978-0470013212
