You would like to have the current equivalent in terms of today's buying power of $2,500 in 10 years. how much would you have to invest today (in nominal terms) to fund this level of real consumption?
you expect inflation to be 5% per year over that time period. your investments earn 7% per year in nominal terms.

a. $2,112
b. $2,500
c. $1,271
d. $2,070

D. $2,070

Explanation:

First, convert $2500 real dollar amount at year 10 to  to nominal amount;

If inflation rate is 5% per year, then in 10 years the inflation will compound to the following;

1.05^ 10 = 1.6289

Therefore, the nominal amount of your savings would be

= $2500*1.6289

= $4,072.25

Next, that would be your future value( FV), find its present value using the 7% as the discount rate. On a financial calculator, input the following;

FV = 4,072.25

I/Y = 7%

N= 10

PMT = 0

then compute present value ; CPT PV = $2,070

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.