Assume the inflation rate is 4.85% and you invest $3,391.23 at a real interest rate of 4.23%. (Assume no additional deposits or withdrawals; also, assume
Assume the inflation rate is 4.85% and you invest $3,391.23 at a real interest rate of 4.23%. (Assume no additional deposits or withdrawals; also, assume no taxes.) a. How much in real dollars (current dollars) would be in the account after 13 years?
b. How much in nominal dollars would be in the account after 13 years?
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Authors: Louis Gapenski
5th Edition
1567936113, 978-1567936117
