Problemyou want to have 1 million in real dollars in an, Ask an Expert

Accounting

Problem:

You want to have $1 million in real dollars in an investment account when you retire in 30 years. The nominal return on your investment is 9 percent and the inflation rate is 4 percent.

Required:

Question: What real amount must you deposit each year to achieve your goal.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91172279

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