Multiple Choice
Mr. X invested $5,000 for a period of 2 years. The investment plan offered a nominal rate of return of 6% on the investment.
-Refer to the scenario above. If the long-run average inflation rate is 3%, the real value of his investment in today's dollars is ____.
A) $5,304.50
B) $5,618.00
C) $10,430.50
D) $15,612.00
Correct Answer:
Verified
Correct Answer:
Verified
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