If the real interest rate is 1% per annum and the inflation rate is 3% per annum, then what is the present value of a
If the real interest rate is 1% per annum and the inflation rate is 3% per annum, then what is the present value of a $1,000,000 nominal payment next year?
Please provide work on how you would get this answer
A: $980,681.
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Authors: Paul Asquith, Lawrence A. Weiss
2nd Edition
1119537835, 978-1119537830
