Suppose the inflation rate is 2% per year. If you currently think of $40,000 as an acceptable retirement income and are expecting to retire in 40 years, what will the equivalent annual income then be, adjusted for inflation? Round your answer to the nearest dollar.

88,400
https://digital.wwnorton.com/media/558d5c77891c58604c7613ac/Inq_ME_11.5-3_Ch11fig11.jpg

Even with fairly modest 2% annual inflation, the dollar amount more than doubles over 40 years.
According to the graph, $2.21 is needed to match today's $1 after 40 years of 2% inflation.