Your retired client has accumulated investment and retirement assets totaling $7,194,000. Assume the client expects to live for another 29 years and that he assumes an annual inflation rate of 1.79 percent. To leave his heirs the future value of the $7,194,000 at the end of the 29 years, the value of the assets at that time would need to grow to $_____. (Please write the answer in "Your Answer" box). Round the answer to two decimal places.
Your retired client has accumulated investment and retirement assets totaling $7,194,000. Assume the client expects to live for another 29 years and that he assumes an annual inflation rate of 1.79 percent. To leave his heirs the future value of the $7,194,000 at the end of the 29 years, the value of the assets at that time would need to grow to $_____. (Please write the answer in "Your Answer" box). Round the answer to two decimal places.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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Your retired client has accumulated investment and retirement assets totaling $7,194,000. Assume the client expects to live for another 29 years and that he assumes an annual inflation rate of 1.79 percent. To leave his heirs the
Round the answer to two decimal places.
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