Suppose an insurance agent offers you a policy that will provide you with a yearly income of $230,000 in 20 years. What is the comparable annual salary today, assuming an inflation rate of 3%?. (Round your answer to the nearest cent.)

Answer 1

Is Please Help the name of your subject?

Answer 2

Yes

Answer 3

Gee -- I must have failed "Please Help" when I was in school. I remember nothing about such a class.

Answer 4

Wow, pretty ignorant responses you have received. Would have taken less time to post the formula for the answer.

230,000/1.03^20=