Inflation is running at 2.1% per year when you deposit $11,000 in an account earning 6.1% per year compounded quarterly. In constant dollars, how much money will you have 4 years from now Round your answer to the nearest cent.
[Hint: First calculate the value of your account in 4 year's time, and then find its present value based on the inflation rate.]

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Question

Inflation is running at 2.1% per year when you deposit $11,000 in an account earning 6.1% per year compounded quarterly. In constant dollars, how much money will you have 4 years from now  Round your answer to the nearest cent.
[Hint: First calculate the value of your account in 4 year's time, and then find its present value based on the inflation rate.]
 
$ __________

Quizplus · Accepted Answer

The Answer of Inflation is running at 2.1% per year when you deposit $11,000 in an account earning 6.1% per year compounded quarterly. In constant dollars, how much money will you have 4 years from now  Round your answer to the nearest cent.
[Hint: First calculate the value of your account in 4 year's time, and then find its present value based on the inflation rate.]
 
$ __________

Inflation Is Running at 2