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Lana wants to receive the equivalent of $20,000 in todays dollars at the beginning of each year for the next 10 years. She assumes inflation
Lana wants to receive the equivalent of $20,000 in todays dollars at the beginning of each year for the next 10 years. She assumes inflation will average 5% over the long run and she can earn an 8% annual aftertax return on her investments. What lump sum does Lana need to invest today to achieve her goal?
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