In wisely planning for your retirement, you invest $22,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real return of 10% per year when the inflation rate averages 3.2% per year.

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
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Chapter1: Making Economics Decisions
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In wisely planning for your retirement, you invest $22,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real return of 10% per year when the inflation rate averages 3.2% per year.

 

 

How many future dollars will you have in the account immediately after your last deposit?

 

You will have $  future dollars in your account immediately after your last deposit. 

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In wisely planning for your retirement, you invest $22,000 per year for 20 years into a 401K tax-deferred account. Assume
you make a real return of 10% per year when the inflation rate averages 3.2% per year.
How many future dollars will you have in the account immediately after your last deposit?
You will have $
| future dollars in your account immediately after your last deposit.
Transcribed Image Text:Required information In wisely planning for your retirement, you invest $22,000 per year for 20 years into a 401K tax-deferred account. Assume you make a real return of 10% per year when the inflation rate averages 3.2% per year. How many future dollars will you have in the account immediately after your last deposit? You will have $ | future dollars in your account immediately after your last deposit.
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