CONNECT WITH LEARNSMART FOR BODIE: ESSE
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ISBN: 2819440196239
Author: Bodie
Publisher: MCG
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Chapter 21, Problem 8PS
Summary Introduction
To determine:
The rate of savings from real income that will produce same retirement
Introduction:
Nominal Income is defined as the actual income in a currency. Nominal Income has no concern with the
Whereas real income is defined as the nominal income which is adjusted for inflation
It is the buying power of nominal income.
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