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You recently found that a rich Uncle Herbert you never knew existed left you $125,849 in his will. The problem is, that money is not
You recently found that a rich Uncle Herbert you never knew existed left you $125,849 in his will. The problem is, that money is not available to you for 10 more years (because uncle Herbert didn't think you were old enough to handle it - but he didn't know you all that well). Because you did so well in your Economics classes, you are aware of inflation (which you estimate to average 1.24% per year over the next 10 years). What is the value of the $125,849 your uncle left you in today's dollars? Enter your answer to the nearest cent
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