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Please Help

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Suppose an insurance agent offers you a policy that will provide you with a yearly income of $230,000 in 20 years. What is the comparable annual salary today, assuming an inflation rate of 3%?. (Round your answer to the nearest cent.)

  • Please Help -

    Is Please Help the name of your subject?

  • Please Help with homework -

    Yes

  • Please Help -

    Gee -- I must have failed "Please Help" when I was in school. I remember nothing about such a class.

  • Please Help -

    Wow, pretty ignorant responses you have received. Would have taken less time to post the formula for the answer.

    230,000/1.03^20=

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