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You would like to save an amount at the end of each year for the next 5 years, starting with $1500 at the end of
You would like to save an amount at the end of each year for the next 5 years, starting with $1500 at the end of this year. If the amount of your annual savings is expected to grow with a nominal rate of 5%, what is the amount you will accumulate after 5 years? Assume a real interest rate 7% and expected inflation 3%
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