Bonus points problem

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[Bonus Points Problem] In 40 years, you would like to retire on $150,000 a year in today's dollars. If the inflation rate = 4% a year for the next 40 years, how much must you have to equal today's $150,000?

a. $600,000

b. $156,000

c. $720, 153

Reference no: EM13890509

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