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

What real amount must you deposit each year to achieve your goal? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Deposit amount $

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92843602

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