How much will you need in 30 years to have the same purchasing power that $150 has today,if inflation averages 4% per year?
A) $486.51
B) $180.00
C) $120.00
D) $169.08
E) $330

Question

Quizplus · Accepted Answer

FV = PV × 11ea7fdb_fc24_d97d_a768_354ff4cd596b_TB2902_00 FV = 150 × (1.04 11ea7fdb_fc24_d97e_a768_bb12be39847a_TB2902_00 = $486.51
Using a financial calculator:
N = 30, I/Y = 4, PV = -150, PMT = 0, cpt FV = $486.51

How Much Will You Need in 30 Years to Have