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Given that you can earn 3% return per year with inflation running at 4% per year, how much would you have to deposit today if you wanted to collect the equivalent of $1,000,000 in today's actual dollars 30 years from today? Also, explain why you need to deposit more or less than $1,000,000 today to receive the equivalent of that amount in 30 years.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9472217

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