Need these two questions answered by tonight. Thanks!
A. You had $1,000,000 in 1970. What is that amount worth today in buying power? (Hint: Compound each year using the published inflation rates for each year thru 2020).
B. You currently earn an annual salary of $100,000. What would the equivalent look like in 1986? (Hint: Discount each year using the published inflation rates back to 1986).
To receive full credit, you must research and utilize each year’s inflation rate (no average calculations will be accepted). Must show the tables of values for each year to ear credit.