You recently found that a rich Uncle Herbert you never knew existed left you $146,450 in...

 

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You recently found that a rich Uncle Herbert you never knew existed left you $146,450 in his will. The problem is, that money is not available to you for 21 more years (because uncle Herbert didn't think you were old enough to handle it - but he didn't know you all that well). Because you did so well in your Economics classes, you are aware of inflation (which you estimate to average 2.2% per year over the next 21 years). What is the value of the $146,450 your uncle left you in today's dollars? Enter your answer to the nearest cent! You recently found that a rich Uncle Herbert you never knew existed left you $146,450 in his will. The problem is, that money is not available to you for 21 more years (because uncle Herbert didn't think you were old enough to handle it - but he didn't know you all that well). Because you did so well in your Economics classes, you are aware of inflation (which you estimate to average 2.2% per year over the next 21 years). What is the value of the $146,450 your uncle left you in today's dollars? Enter your answer to the nearest cent!

Answer rating: 100% (QA)

To determine the present value of 146450 in 21 years giv... View the full answer