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Leslie Cortes invests $ 2 5 , 0 0 0 today in an investment that earns 8 percent per year ( compounded annually ) for

Leslie Cortes invests $25,000 today in an investment that earns 8 percent per year (compounded
annually) for 30 years. The average inflation rate is expected to be 3.25 percent per year. She will
have much more than $25,000 in 30 years BUT what would this future amount be if expressed in
todays dollars?
a. $100,591
b. $96,372
c. $99,844
d $251,566
e. $116,523

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