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Your Great Uncle just died and in his will he stipulated that you should receive $100,000 in cash on your 30th birthday. You are 20
Your Great Uncle just died and in his will he stipulated that you should receive $100,000 in cash on your 30th birthday. You are 20 years old today. Assuming the fair market nominal rate is 7% and the expected inflation rate is 3%, calculate the value of this bequest in real dollars in ten years on your 30th birthday. Round you answer to the nearst dollar
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