Olivia Norman invests $$100,000$ today in an investment that earns $15$ percent per year

$($compounded annually$)$ for $20$ years. The average inflation rate is expected to be $2\mathrm{.}5$ percent

per year. She will have much more than $$100,000$ in $20$ years BUT what would this future

amount be if expressed in today's dollars?

a$.$ $$1,054,509$

b$.$ $$1,021,440$

Please solve using TI$84$ TVM calculator inputs, explaining

c$.$ $$986,673$

all steps and entries. I believe you must first find the FV$,$

d$.$ $$972,114$

and then reorder the calculation to find the PV$,$ but I am

e$.$ $$998,802$

confused on the details of the process. I also do not

understand how to factor inflation in$.$

Please note that the correct answer is $"E,"$ $$998,802$