Saturday
March 28, 2015

Homework Help: math

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

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

math - If a person makes $30,000 in 2004 and the inflation rate is4% annually, ...
Finance - If a person makes $30,000 in 2004 and the inflation rate is 4% ...
Math - The Inflation Problem. If a person makes $30,000 in 2004 and the ...
MTH 156 - I am having trouble with this question, please help. If a person makes...
Stats (Finance) - Given the following information: Year X Y Z 2004 12.53 2.64 -4...
Finance - 2004 and the inflation rate is 4% annually
HeLP MATH !!!! - The annual sales S (in billion of dollars) of oracle ...
algebra - The equation y= - 1777x + 27,153 can be used to predict the number y ...
accounts - 1. On January 1, 2004 PEN PENNY received a Utility Bill from BEC for...
algebra - The equation y= -1777x + 27,153 can be used to predict the number y of...

Members