Homework Help: finance

Posted by shanty on Tuesday, January 31, 2012 at 8:17pm.

Indexing exemptions for inflation. Each year, the Internal Revenue Service adjusts the value of an exemption based on inflation(and rounded to the nearest $50). In a recent year, if the exemption was worth $3,100 and inflation was 4.7 percent, what would be the amount of the exemption for the upcoming tax year?

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