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A savings bond is purchased for $7,000 in 2010. It will mature to be worth $21,000 in 2030. If the inflation rate is predicted to
A savings bond is purchased for $7,000 in 2010. It will mature to be worth $21,000 in 2030. If the inflation rate is predicted to average 2.5% per year over this time period, what would be the non-inflated effective value of the bond in 2030?
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