What is the value 5 years later in nominal dollars

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You want to deposit money each year for the next five years and each deposit to have $30,000 in real dollars currently and the inflation rate is 3% per year and the nominal interest rate is 5.06%.

a) What is the value 5 years later in nominal dollars and real dollars (Show Calculations)?

b) What is the value today in nominal dollars and in real dollars (Show Calculations)?

Reference no: EM132392830

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