Posted by m on .
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
then continuing through the years to
30000/35095.76x30000=25644.12 is what his salary would be worth in 2008 in terms of 2004 dollars