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I need a helper to double check these answers for me. Please only respond if they are incorrect. Thank you in advance! $5000 is deposited into a well-run bond fund, which pays an annual yield of 4.5%
I need a helper to double check these answers for me. Please only respond if they are incorrect. Thank you in advance!
$5000 is deposited into a well-run bond fund, which pays an annual yield of 4.5%. The average inflation rate is 2.8%.
a) What is the (nominal) value after 9 years? Round down to the nearest penny.
answer= $8,255.00
b) How much real interest has been earned after 9 years? Round to the nearest dollar.
answer= $2,025
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