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. Required informationIn wisely planning for your retirement, you invest $22,000 per year for 20 years into a 401K tax-deferred account. Assumeyou 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.

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.

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.

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter6: Saving And Investing

Section6.1: Why Save?

Problem 6R

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Question

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.

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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