What serial payment should clark invest at the end

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Question - Clark wants to retire in 9 years. He needs an additional $300,000 in terms of today's purchasing power in 9 years to have sufficient funds to finance this objective. He assumes inflation will average 5% over the long run and that he can earn a 4% compound annual after-tax rate of return on investments. What serial payment should Clark invest at the end of the first year to attain his objective?

Reference no: EM133251856

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