finance
posted by jacky .
indexing exemption for inflation. each year, the internal revenue service adjusts the value of an exemption based on inflation ( and rounded to the nearest $50.00). 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?

100% + 4.7% = 104.7% = 1.047.
Amt = 1.047*3100 = $3245.70.
Respond to this Question
Similar Questions

microeconomic
How might an investor who holds a regular 10year Treasure note end up earnig higher real interest returns over a decade than someone who holds an inflationprotected 10year Treasure note for the same period? 
math
Inflation is running 2% per year when you deposit $1000 in an account earning interest of 13% per year compounded annually. In constant dollars, how much money will you have two years from now? 
Managerial Finance
Due to a recession, expected inflation this year is only 2%. However, the inflation rate in Year 2 and thereafter is expected to be constant at some level above 2%. Assume that expectations theory holds and the real riskfree rate … 
Math/Finance
Due to a recession, expected inflation this year is only 2%. However, the inflation rate in Year 2 and thereafter is expected to be constant at some level above 2%. Assume that expectations theory holds and the real riskfree rate … 
Finance
(Inflation) A projectâ€™s initial investment is $40,000, and it has a fiveyear life. At the end of the fifth year, the equipment is expected to be sold for $12,000, at which time its net book value will be $5,000. The CFATs (including … 
finance
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 … 
Financial planning
If the exemption was worth $3100.00 and inflation was 4.7 % what would be the amount of the exemption for the upcoming tax year? 
Person Financial
The Internal revenue service adjust the value of an exemption was exemption base on inflation (and rounded to the nearest $500. If the exemption was $3,100 and inflation was 4.7 percent this year, what would be amount of the exemption … 
MACRO
Suppose last year's inflation rate was 5%, but Wall Street analysts expect this year's interest rate to be 4%. Which of the following correctly describes people's beliefs according to rational or adaptive expectations theories? 
Finance
Due to a recession, expected inflation this year is only 2.75%. However, the inflation rate in Year 2 and thereafter is expected to be constant at some level above 2.75%. Assume that expectations theory holds and the real riskfree …