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QUESTION
You would like to receive an equivalent of $10,000 in today's dollars at the start of the year for the next five years.
You would like to receive an equivalent of $10,000 in today's dollars at the start of the year for the next five years. Assuming that inflation will average 3% over during that time and you can earn 5% on your investment. How much will you need to invest today in order to receive these five annual payments, adjusted for inflation?
