Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

If $45,000 is invested now, which of the following value is closest to the equivalent future dollars 9 years from now to earn a real

If $45,000 is invested now, which of the following value is closest to the equivalent future dollars 9 years from now to earn a real interest rate of 2% per year, when the inflation rate is 1% per year?

Select one:

a. 67,640

b. 38,231

c58,817

d. 29,409

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Fraud Smart

Authors: K. H. Spencer Pickett

1st Edition

0470682582, 978-0470682586

More Books

Students also viewed these Accounting questions

Question

=+ (a) Show that D is finitely but not countably additive on 9.

Answered: 1 week ago