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Please help with the second part of this problem. Thank you! Biagio Fortuna deposits $10,000 a month, every month, for the next twenty years, in
Please help with the second part of this problem. Thank you!
Biagio Fortuna deposits $10,000 a month, every month, for the next twenty years, in a utility fund. The fund is expected to pay 6.35% for the life of the fund. What will the balance in Biagio's account when he plans to withdraw in twenty years. (compounded monthly). 4,816,912.14 b. 4,754,083.91 5,010,350.55 5,436,373.34 If the inflation rate over the next twenty years is expected to average around 4%, what is the funds estimated purchasing power in today's (2018) dollars. Re-work previous question using real rate of interest. 3,024,242 3,060,046 3,350,211 3,475,250 a. sooStep by Step Solution
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