Write a script to determine the amount in an IRA (individual retirement amount) with inflation Suppose the nominal interest rate is r = 5% and and the rate of inflation is r_I = 3%, and the amount put into the IRA increases each month with inflation. Write the equation as in eq. (1.116) except that you should use the variables r1 = 1 + r/12; ri1 = 1 + ri/12; mo = 12n so you can see exactly how the variables appear. Discuss how much money a person will have after 30 years if he/she begins by putting $100 into it per month. 33 Incidentally, these numbers are quite realistic. They are very close to the actual numbers quoted by Wonga.com, a British payday loan company, which were found on their main webpage 503 (which has sliders for the amount to be borrowed and the length of time, and it immediately returns the total that must be repaid) check this out it might help just you have to put the values in it Compound Interest Calculator Compound Interest Calculator
