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  • 08-04-2024
  • Business
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You place $4000 into an account paying 8% compounded annually. Inflation is expected to be 2. 5% during each of the next three years. What is the account's value at the end of the 3 years in Year-O (constant) dollars?
a. $2029
b. $5040
c. $5428
d. $4680

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