If the nominal interest rate is 4% and the average inflation rate is 2%, what is the approximate future value of $15,000 in 10 years?
If the nominal interest rate is 4% and the average inflation rate is 2%, what is the approximate future value of $15,000 in 10 years? O $17,949 O $22,204 $15,900 O $18,285 Future Value = 15, 000 x (1 + 0.02) = 18,284.9
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