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Please show all work and formulas You have $10,200 in your account today. You expect to earn a real annual return (APR) of 3.9% with
Please show all work and formulas
You have $10,200 in your account today. You expect to earn a real annual return (APR) of 3.9% with semiannual compounding for the next ten years. If inflation is 1.9% (APR, monthly compounding), how many nominal dollars will you have in your account at the end of ten years? (Note: Be careful not to round any intermediate steps less than six decimal places.) The nominal dollars in your account after ten years will be $ 18,146.61'. (Round to the nearest cent.)Step by Step Solution
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