Question
You would like to have the current equivalent of $400,000 in 3 years. Your investments earn 6.00% APR compounded annually. You expect that inflation over
You would like to have the current equivalent of $400,000 in 3 years. Your investments earn 6.00% APR compounded annually. You expect that inflation over the 3 years will average 4.00% per year. How much would you have to invest per year, for three years, starting in 1 year (the same amount in each year) in REAL terms to be able to have just enough in 3 years to have $400,000 in real terms?
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Healthcare Financial Management Applied Concepts And Practical Analyses
Authors: Cassandra R. Henson
1st Edition
0826144748, 978-0826144744
