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Suppose an insurance agent offers you a policy that will provide you with a yearly income of $230,000 in 30 years. What is the comparable annual salary today, assuming an inflation rate of 4%?. (Round your answer to the nearest cent.)
$ 1

  • math -

    if the salary is s,

    s*1.04^30 = 230000
    s = 70,913.29

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