# 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?

My answer is \$20,559.34, however, the module says its incorrect.

1. 0
2. 0
1. P(1.03)^30 = 50000
P = 50000/1.03^30
= 20599.34

the same as yours.

No idea why they wont' take it

posted by Reiny

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