2007-05-03 12:07:50 · 7 answers · asked by chrissmcguiree 2 in Social Science ➔ Economics
ohh im sorry i ment what was 40000 15 years ago worth today
2007-05-03 17:51:49 · update #1
apply it to what year?
2007-05-03 12:26:16 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Inflation has been holding steady under 3% for over a decade, now. Assuming that pattern holds (and it looks like the new Fed Chairman is 'big' on holding inflation way down) -- use the "rule of 72" to figure out how many years it will take for 40,000 to be worth 20,000.
72/3 = 24 years.(at 3% inflation)
72/2 = 36 years (at 2% inflation)
.
2007-05-03 19:13:00 · answer #2 · answered by tlbs101 7 · 1⤊ 0⤋
Fourty thousand dollars TODAY is $40,000.00 TODAY, since today's inflation rate already exists in determining today's value of any amount of money. If you mean what would $40,000.00 of today's money have been worth at lower or higher periods of inflation, that would depend on many economic factors in addition to inflation rate.
2007-05-03 19:11:46 · answer #3 · answered by andromedasview@sbcglobal.net 5 · 0⤊ 0⤋
It is worth $40,000. Unless you give a base year your question is meaningless.
2007-05-03 19:10:54 · answer #4 · answered by Barkley Hound 7 · 0⤊ 0⤋
$40,000 of today's money is worth $40,000 of today's money. You never gave a date to compare it to.
2007-05-03 19:10:51 · answer #5 · answered by Chris 6 · 0⤊ 0⤋
Less than $2000 1913 dollars.
here's a comparison chart by year
http://www.factmonster.com/ipka/A0001519.html
2007-05-03 19:45:47 · answer #6 · answered by treffler 2 · 0⤊ 0⤋
$40,000.
The question is meaningless unless you provide a base year. The question needs to be, "what is $40,000 today worth in [year] dollars?"
2007-05-03 19:31:30 · answer #7 · answered by Anonymous · 0⤊ 3⤋