#4

You want to have $4.5 million in real dollars in an account when you retire in 30 years. The nominal return on your investment is 9 percent and the inflation rate is 4.5 percent. What real amount must you deposit each year to achieve your goal? (Do not round your intermediate calculations.)

a. $76,217.17

b. $33,013.58

c. $80,028.03

d. $79,265.86

e. $72,406.31