Real value of nick investments be at a minimum

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Reference no: EM131849333

Nick has lost faith in the banks, and has decided to diversify his portfolio by keeping some money under his mattress. He decides to put $4000 under his mattress and $4500 in a GIC with a 12% annual interest rate (compounded continuously). If there is a 7% annual inflation rate, when will the real value of Nick's investments be at a minimum?

Reference no: EM131849333

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