1. **State the problem:** We want to find the equivalent annual salary today that would have the same value as $249,000 received in 30 years, considering an annual inflation rate of 3% compounded yearly. 2. **Understand the concept:** Due to inflation, money in the future is worth less today. To find the present value (PV) of a future amount (FV), we use the formula: $$PV = \frac{FV}{(1 + r)^n}$$ where: - $FV = 249000$ - $r = 0.03$ (3% inflation rate) - $n = 30$ years 3. **Calculate the present value:** $$PV = \frac{249000}{(1 + 0.03)^{30}} = \frac{249000}{(1.03)^{30}}$$ Calculate $(1.03)^{30}$: $$ (1.03)^{30} \approx 2.42726 $$ So, $$PV = \frac{249000}{2.42726} \approx 102600.68$$ 4. **Interpretation:** The comparable annual salary today, accounting for 3% annual inflation over 30 years, is approximately $102,601. **Final answer:** $$\boxed{102601}$$