Question
Nervous Rollo puts $10,000 per year into a savings account from ages 25 to 60 earning 1% in interest per year. If the average rate
Nervous Rollo puts $10,000 per year into a savings account from ages 25 to 60 earning 1% in interest per year.
If the average rate of inflation is 3% per year, how much in future wealth will Nervous Rollo lose (Hint: the difference in future values)?
[Round to the nearest cent]
[Round to the nearest cent]
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Local Public Finance
Authors: René Geissler, Gerhard Hammerschmid, Christian Raffer
1st Edition
3030674681, 978-3030674687
