Deposit each year to achieve your goal

Assignment Help Financial Management

Reference no: EM131580800

You want to have $1 million in real dollars in an account when you retire in 20 years. The nominal return on your investment is 11 percent and the inflation rate is 3.5 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 $

Reference no: EM131580800

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