Problemyou want to have 4 million in real dollars in an, Ask an Expert

Accounting

Problem:

You want to have $4 million in real dollars in an account when you retire in 50 years. The nominal return on your investment is 11 percent and the inflation rate is 6.5 percent.

Required:

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

Note: Provide support for rationale.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91169455

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