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I. As you have seen in this chapter, a dollar today does not have the same value as a dollar in the future or a

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I. As you have seen in this chapter, a dollar today does not have the same value as a dollar in the future or a dollar received in the past. At the time of his death in 1937, John D. Rockefeller was estimated to be worth $1.4 billion. Go to the Bureau of Labor Statistics at www.bls.gov. Highlight "Databases & Tools" Click the calculator icon next to "Inflation." How much would Rockefeller's for- tune be worth in today's dollars? at the top of the page, and select "Calculators" in the drop down menu. Now let's consider a hypothetical situation where you are worth $1 million at the end of World War II. Using the same CPI tool, calculate how much you would need today to maintain the same purchasing power as in 1945.13,0,1las Assume that the rate of inflation for the next 30 years is the same as the last 30 years. How much will you need to have the same purchasing power as you have today? 3. Note: Occasionally a topic we have listed may have been deleted, updated, or moved into a different location on a website. If you click on the site map or site index, you will be introduced to a table of contents that should aid you in finding the topic you are looking for

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