Eleni, Who Is Now 50 Years Old, Is Employed by a Firm

Essay

Eleni, who is now 50 years old, is employed by a firm that guarantees her a pension of $20,000/year at age 60. What is the present value of her first year's pension if inflation over the next 10 year(s) is at the given rate. Assume that inflation is continuously compounded. Round your answers to the nearest cent.
5%
$__________
9%
$__________
11%
$__________