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Good news You will almost certainly be a millionaire by the time you retire in 50 years Bad news The inflation rate over your lifetime will average about 3 per year What is the real value of 1 m

Good news: You will almost certainly be a millionaire by the time you retire in 50 years. Bad news: The
inflation rate over your lifetime will average about 3% per year. What is the real value of $1 million that
you receive by the time you retire, in terms of today’s dollars?
a) $ 179,223
b) $ 228,107
c) $ 388,956
d) $ 1,000,000
e) $ 4,383,906

Apr 15 2021 View more View Less

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