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April 21, 2014

Homework Help: business

Posted by nicky on Saturday, October 13, 2012 at 11:49am.

You want to have $6 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 13 percent and the inflation rate is 5.1 percent.

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

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