Emily, after the semester she spends at Erasmus, decides to settle and work in Germany, but with an aim to return to England and cultivate an olive grove at . She feels that €200,000 worth of purchasing power in today’s Euros will be enough for her to but the olive grove she dreams of after 30 years. She has found a retirement plan in Germany that would pay her an annual 3.6% interest compounded monthly. If there is a general inflation rate of 2% and if her plans are to make 360 equal monthly deposits to this retirement plan, what should be the amount of her monthly deposits in actual Euros so that she can buy this olive grove when she returns to England? Assume that her first deposit to this account will be made at the end of the first month.
Emily, after the semester she spends at Erasmus, decides to settle and work in Germany, but with an aim to return to England and cultivate an olive grove at . She feels that €200,000 worth of
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