If Dr. Evil out that holding the earth ransom for $10,000,000 in 2017 is the same thing as demanding $1,000,000 in 1967, approximately what rate of inflation was he using to make that assumption?

You just won the 1 million dollar lottery! However the state will be paying it out to you in 20 annual $50,000 payments. 

If the inflation rate averages 4% over that time period how much would be the present value if you could receive an equivalent amount up front in a lump sum?

Answer rating: 100% (QA)

a To calculate the inflation rate that Dr Evil was assuming we can use the inflation calculator prov... View the full answer