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Mr. Hall wants to receive $45,000 at the end of each year in today's dollars for the next 15 years. He is concerned about inflation
- Mr. Hall wants to receive $45,000 at the end of each year in today's dollars for the next 15 years. He is concerned about inflation and wants you to determine the lump sum he would need if the annual rate of inflation averages four percent and he could earn nine percent on his investment.
- A.$407,085
- B.$495,967
- C.$473,216
- D.$462,689
- E.None of the above
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Microeconomics: An Intuitive Approach With Calculus
Authors: Thomas Nechyba
2nd Edition
1305650468, 978-1305650466
