# algebra

posted by Jenifer

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$30,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 3% compounded annually? (Round your answer to the nearest cent.)

1. Kuai

PV = FV / (1 + r)^n
= 30000/(1.03)^30
= \$12,359.60

2. Ben

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 3% compounded annually?

## Similar Questions

1. ### Math

Suppose an insurance agent offers you a policy that will provide you with a yearly income of 50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 6% compounded annually?
2. ### Algebra

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 5% compounded annually?
3. ### Finance

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$40,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 5% compounded annually?
4. ### Algebra

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$40,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 6% compounded annually?
5. ### finance

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 4% compounded annually?
6. ### math

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$60,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 6% compounded annually?
7. ### algebra

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 3% compounded annually?
8. ### Algebra

suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$60,000 in 30 years what is the comparable salary today, assuming inflation rate of 3% compounded annually. round the answer to the nearest …
9. ### math

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$80,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 4% compounded annually?
10. ### finance

Suppose that an insurance agent offers you a policy that will provide you with a yearly income of \$50,000 in 30 years. What is the comparable salary today, assuming an inflation rate of 6% compounded annually?

More Similar Questions