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(Solution) - Good news You will almost certainly be a millionaire by

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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%.
a. What will be the real value of $1 million by the time you retire in terms of today's dollars?
b. What real annuity (in today's dollars) will $1 million support if the real interest rate at retirement is 2% and the annuity must last for 20 years?


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This question was answered on: Jul 11, 2017

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