Padayappa has now retired after $40$ years of employment. He just made an annual deposit to his investment portfolio and realized he

has $$2,050,000($not counting home, cars, furniture, etc.$).$ His money has been earning $7$ percent per year, and inflation has been

running $4$ percent per year over the past $40$ years.

Part a

What equal amount of money did he put into his investment at the end of each year?$

Carry all interim calculations to $5$ decimal places and then round your final answer to the nearest dollar. The tolerance is $\backslash$pm $5.$

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Part b

What is the buying power of his $$2,050,000$ in terms of a base $40$ years ago? $

Carry all interim calculations to $5$ decimal places and then round your final answer to the nearest dollar. The tolerance is $\backslash$pm $50.$

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Attempts: $0$ of $3$ used

$)$

If he could buy a TV $40$ years ago for $$600,$ what would a comparable one cost today if the consumer electronics inflation rate is $-3$

percent? $

Carry all interim calculations to $5$ decimal places and then round your final answer to the nearest dollar. The tolerance is $\backslash$pm $1.$