When George Washington was president of the United States - 11217

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When George Washington was president of the United States in 1797, his salary was $25,000. If you assume an annual rate of inflation of 2.5%, how much would his salary have been in 1997?

a. $2,525,548

b. $4,085,920

c. $1,025,000

d. $954,719

e. $3,489,097

 
Solution Description

When George Washington was president of the United States in 1797, his salary was $25,00