If the nominal interest rate is 8% and the inflation rate is 5%. Using the relevant real interest rate formula, what is the future value of an $1500 investm year? Provide your answer to two decimal places. Do not include "$"

If the nominal interest rate is 8% and the inflation rate is 5%. Using the relevant real interest rate formula, what is the future value of an $1500 investm year? Provide your answer to two decimal places. Do not include "$"

Survey Of Economics

10th Edition

ISBN:9781337111522

Author:Tucker, Irvin B.

Publisher:Tucker, Irvin B.

Chapter13: Inflation

Section: Chapter Questions

Problem 2SQP

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If the nominal interest rate is 8% and the inflation rate is 5%. Using the relevant real interest rate formula, what is the future value of an $1500 investment in one
year?
Provide your answer to two decimal places. Do not include "$"

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