Business, 09.10.2019 22:00 corrineikerd

You would like to purchase a vacation home in 10 years. the current price of such a home is $500,000 but the price of these types of homes is rising at a rate of 3% per year. how much would you have to invest today in nominal terms to exactly pay for the vacation home if your investments earn 5% apr (compounded annually) in nominal terms?

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You would like to purchase a vacation home in 10 years. the current price of such a home is $500,000...