What real amount must you deposit each year to achieve goal

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Reference no: EM131303404

You want to have $2 million in real dollars in an account when you retire in 40 years. The nominal return on your investment is 10 percent and the inflation rate is 4.1 percent.

What real amount must you deposit each year to achieve your goal? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Deposit amount $

Reference no: EM131303404

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