You would like to purchase a vacation home in 10 years. The current price...
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Accounting
You would like to purchase a vacation home in 10 years.
The current price of such a home is $150,000 but the price of these types of homes is rising at a rate of 2% per year.
How much would you have to invest today in nominal terms to exactly pay for the vacation home if your investments earn 4% APR (compounded annually) in nominal terms?
Group of answer choices
$101,335
$182,849
$127,973
$123,526
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