Falcon Industries set aside $21,500 (now) in an investment account that earns 6.5% per year, compounded monthly. Determine the future worth equivalent in real- dollars of this investment 12 years from now, if the inflation rate is 3.5% per year.

Question

Quizplus · Accepted Answer

The Answer of Falcon Industries set aside $21,500 (now) in an investment account that earns 6.5% per year, compounded monthly. Determine the future worth equivalent in real- dollars of this investment 12 years from now, if the inflation rate is 3.5% per year.

Falcon Industries Set Aside $21,500 (Now) in an Investment Account