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In: Economics

You know you will receive $1,450 each month in Social Security payments in retirement. Assuming you...

You know you will receive $1,450 each month in Social Security payments in retirement. Assuming you will get benefits for 30 years and a real interest rate of 3%, what are those payments worth to you today?

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Expert Solution

what are those payments worth to you today

=1450*((1-(1+(3%/12))^(-30*12))/(3%/12))

=343924.60

Rahul Sunny answered 2 years ago
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