Assumes that inflation rate is running

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Reference no: EM13725206

You deposit a sum of $10,000 today in your bank safe deposit box and leave it there. You learn nothing in your bank account as the money is sitting inside the safe deposit box. Assumes that inflation rate is running at 14% a year. How much will your $10,000 be worth at the end of 6 years?

Note: please explain each step and how you got the answer.

Reference no: EM13725206

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