What real amount must you deposit each year to achieve goal

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Reference no: EM132051436

You want to have $1 million in real dollars in an account when you retire in 20 years. The nominal return on your investment is 14 percent and the inflation rate is 5.2 percent.

What real amount must you deposit each year to achieve your goal? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Reference no: EM132051436

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