What is the dollar value of the account

Reference no: EM131984585

Problem

Suppose that you deposit $6,000 each year for 5 years into an equity account earning 2 % per year. During this period, the general inflation is expected to remain at 5 % per year. At the end of 5 years, what is the dollar value of the account in terms of today's purchasing power (i.e., real dollars)?

Reference no: EM131984585

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