Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 06 Nov 2017 My Price 6.00

average inflation rate

1. A woman desires to have $400,000 in a savings account when she retires in 20 years. Because of the effects of inflation on spending power, she stipulates that her future “nest egg” will be equivalent to $400,000 in today’s purchasing power. If the expected average inflation rate is 7% per year and the savings account earns 5% per year, what lump-sum amount of money should the woman deposit now in her savings account?

 

2. A person just turned 21 years old. If inflation is expected to average 2.4% per year for the next 44 years, how much will $1 today be worth when this person retires at age 65?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 06 Nov 2017 09:11 PM My Price 6.00

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