Mr and Mrs Smarts are deposit $10,000 on December 31st every year towards their retirement. If the bank is giving them an interest rate of 11% per year on their account and inflation is expected to average 4% per year in the next several years, how much money will their retirement account have after 20 years in actual dollars and in real dollars. Click the icon to view the interest and annuity table for discrete compounding when i = 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 11% per year. ..... In actual dollars: O A. $293,013 O B. $398,103 O C. $642,028 O D.$1,079,373 In real dollars: O A. $1,079,373 O B. $398,103 O C. $642,028 O D. $293,013
Mr and Mrs Smarts are deposit $10,000 on December 31st every year towards their retirement. If the bank is giving them an interest rate of 11% per year on their account and inflation is expected to average 4% per year in the next several years, how much money will their retirement account have after 20 years in actual dollars and in real dollars. Click the icon to view the interest and annuity table for discrete compounding when i = 4% per year. Click the icon to view the interest and annuity table for discrete compounding when i = 11% per year. ..... In actual dollars:
O A. $293,013
O B. $398,103
O C. $642,028
O D.$1,079,373
In real dollars:
O A. $1,079,373
O B. $398,103
O C. $642,028
O D. $293,013
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