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What is the value of the funds he must have

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Question - Paul wants to make a gift of $11,000 in today's dollars to his parents at the end of each of the next 15 years. If the annual rate of return is 14.6% and inflation is 3.4%, what is the value of the funds he must have in hand today to meet this need for the 15-year period?

Reference no: EM132959043

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