How much will you have in actual dollars at the end

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Reference no: EM131927577

You have $1,000 in a savings account that pays 2% per year compounded monthly.

The average inflation rate is expected to be 3% per year compounded monthly.

How much will you have in actual dollars at the end of 10 years?

How much will you have in constant dollars if the base month is 24?

Reference no: EM131927577

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