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At Age 18, You Decided to Bury $1,000 in Your

Question 41

Multiple Choice

At age 18, you decided to bury $1,000 in your back yard and vowed not to use this money until your planned retirement at age 65.What will be the approximate real purchasing power of this money at that time, assuming that the average annual inflation rate over this time period is 4%?


A) $1,000
B) $960
C) $660
D) $460
E) $160

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