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Suppose you’ll have an annual nominal income of $65,000 for each of the next 3 years, and the inflation rate is 5 percent per year. What is the real income for the next three ye…

Suppose you’ll have an annual nominal income of $65,000 for each of the next 3 years, and the inflation rate is 5 percent per year. What is the real income for the next three ye…
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1 vote
Suppose you’ll have an annual nominal income of $65,000 for each of the next 3 years, and the inflation rate is 5 percent per year. What is the real income for the next three years?

asked
User Judelka
by
7.6k points

1 Answer

4 votes
65,000÷1.05^(3)
=56,149.44
answered
User Kaushal Kumar Singh
by
9.2k points
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