How much do you have to invest

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Question - You need $70,000 in today's buying power 6 years from now. You can earn 2% APR in real terms on your investments. How much do you have to invest, in nominal terms (the same amount each year), starting next year for 5 years, to just meet your needs, if you expect inflation to be 4% per year?

$4,245

$8,018

$14,788

$15,539

Reference no: EM132178139

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