SOLUTION: I need help. please Your annuity will be worth $240,000 in 30 years. How much is it worth in today’s money if the average inflation rate is 3% per year?

Algebra ->  Algebra  -> Functions -> SOLUTION: I need help. please Your annuity will be worth $240,000 in 30 years. How much is it worth in today’s money if the average inflation rate is 3% per year?      Log On

Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations!
Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

   

Question 64538: I need help. please

Your annuity will be worth $240,000 in 30 years. How much is it worth in today’s money if the average inflation rate is 3% per year?
Answer by stanbon(48535) About Me  (Show Source):
You can put this solution on YOUR website!
Your annuity will be worth $240,000 in 30 years. How much is it worth in today’s money if the average inflation rate is 3% per year?
--------------
Future Value = (present Value)(1+i)^n
240000=PV(1.03)^(30)
PV=240000/2.42726...
PV=$98876.82
Cheers,
Stan H.