You have $10,200 in your account today. You expect to earn a real annual return...
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Finance
You have $10,200 in your account today. You expect to earn a real annual return (APR) of 4.2% with quarterly compounding for the next twenty years. If inflation is 2.2% (APR, monthly compounding), how many nominal dollars will you have in your account at the end of twenty years? (Note: Be careful not to round any intermediate steps less than six decimal places.)
Answer: $36,510.71. Please show how to arrive to this answer.
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