Question
You want to have $1,000,000 in real (present-day) dollars in an account in 12 years. You believe that you can attain an annualized return of
You want to have $1,000,000 in real (present-day) dollars in an account in 12 years. You believe that you can attain an annualized return of 6.9% on your investment and you assume that the inflation rate over the period will be 1.90%.
What lump-sum amount do you have to deposit now to achieve your goal?
Based on these assumptions, what is the real rate of return over this period
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Financial Management For Decision Makers
Authors: Peter Atrill, Paul Hurley
2nd Canadian Edition
138011605, 978-0138011604
