The smarter way
to do assignments.

Please note that this is just a preview of a school assignment posted on our website by one of our clients. If you need assistance with this question too, please click on the Order button at the bottom of the page to get started.

If another Austin Powers movie had been released in 2007, and Dr. Evil, now armed with a financial calculator, wants to hold the Earth ransom for \$7,039,988.71, what inflation rate would Dr. Evil use to make his ransom equivalent to \$1 Million in 1967 (Hint: Inflation is compounded on an annual basis). Round to the nearest 1%.
Solution: For Dr. Evil: Future Value = \$7039988.71 Present value = \$1000000 Time Period = 40 Years (1967 to 2007) Future Value = Present…

lue*(1+Inflation Rate)^n \$7039988.71 = \$1000000*(1+Inflation Rate)^40 So, Inflation Rate = 5%

## GET HELP WITH THIS ASSIGNMENT TODAY

Clicking on this button will take you to our custom assignment page. Here you can fill out all the additional details for this particular paper (grading rubric, academic style, number of sources etc), after which your paper will get assigned to a course-specific writer. If you have any issues/concerns, please don’t hesitate to contact our live support team or email us right away.