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What is the market interest rate for the account

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Say that in 2021, your first year working at an engineering firm, you invest $3,000 of your earnings in a retirement account with a real interest rate of 4%. Assume an inflation rate of 2.7%.

a) What is the market interest rate for the account?

b) What is the value of the account five years from now in actual dollars?

c) What is the value of the account five years from now in constant dollars (i.e. 2021 dollars)?

Reference no: EM133079824

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