Posted by **m** on Tuesday, November 2, 2010 at 2:40pm.

If a person makes $30,000 in

2004 and the inflation rate is 4% annually, how much is this

salary worth in the year 2008 (in terms of 2004 dollars)?

What I have is 2004=30000

2005=30000x1.04=32448

then continuing through the years to

2008=35095.76

30000/35095.76x30000=25644.12 is what his salary would be worth in 2008 in terms of 2004 dollars

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