When George Washington was president of the United States in 1797, his salary was $25,000.

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.
$954,719
B.
$2,525,548
C.
$4,085,920
D.
$1,025,000
E.
$3,489,097

Solution