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Gaby puts $13,000 per year (at years end) into an account earning 11% per year for 20 years. Inflation is expected to be 3.25% per

Gaby puts $13,000 per year (at years end) into an account earning 11% per year for 20 years. Inflation is expected to be 3.25% per year. The amount he has in 20 years would only have which of the following as purchasing power in todays dollars.

	a.	$104,810
	b.	$578,685
	c.	$440,247
	d.	$834,637
	e.	$358,335

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