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Value of 2004 US Dollars today

$15,200,000 in 2004
$24,773,170.15 in 2024

The inflation rate in the United States between 2004 and today has been 62.98%, which translates into a total increase of $9,573,170.15. This means that 15,200,000 dollars in 2004 are equivalent to 24,773,170.15 dollars in 2023. In other words, the purchasing power of $15,200,000 in 2004 equals $24,773,170.15 today. The average annual inflation rate between these periods has been 2.47%.

Inflation timeline in the United States (2004 - 2024)

The following chart depicts the equivalence of $15,200,000 due to compound inflation and CPI changes. All values are equivalent in terms of purchasing power, which means that for each year the same goods or services could be bought with the indicated amount of money.

All calculations are performed in the local currency (USD) and using 6 decimal digits. Results show only up to 2 decimal digits to favour readability. Inflation data is provided by governments and international institutions on a monthly basis. Today's values were extrapolated from the latest 12-month rolling average official data.

The following table contains relevant indicators:

Indicator Value
Cumulative inflation 2004-2023 61.32%
Cumulative inflation 2004-today 62.98%
Avg. Annual inflation 2004-2023 2.55%
CPI 2004 79.69
CPI 2023 128.56
CPI 2023-12 (latest official data) 129.42
CPI today 129.88

How to calculate today's value of money after inflation?

There are several ways to calculate the time value of money. Depending on the data available, results can be obtained by using the Consumer Price Index (CPI) formula or the compound interest formula.

Using the CPI formula

When we have both the start and end years, we can use the following formula:

Valuet =Value0 ×
CPIt/CPI0

To obtain the values equivalent in buying power between 2004 and 2023, use the corresponding CPI values:

Value2023
=Value2004 ×
CPI2023/CPI2004
=$ 15,200,000 ×
128.56/79.69
$24,520,247.67

To obtain the equivalent value today (present value), plug in the CPI for today, which is estimated as 129.88:

Valuetoday
=Value2004 ×
CPItoday/CPI2004
=$ 15,200,000 ×
129.88/79.69
$24,773,170.15

Alternative: Using the compound interest formula

Given that money changes with time as a result of an inflation rate that acts as compound interest, we can use the following formula: FV = PV × (1 + i)n, where:

  • FV: Future Value
  • PV: Present Value
  • i: Interest rate (inflation)
  • n: Number of times the interest is compounded (i.e. # of years)

In this case, the future value represents the final amount obtained after applying the inflation rate to our initial value. In other words, it indicates how much are $15,200,000 worth today. There are 19 years between 2004 and 2023 and the average inflation rate was 2.5488%. Therefore, we can resolve the formula like this:

Value2023
=PV × (1 + i)n
=$15,200,000 × (1 + 0.025488)19
$24,520,247.67

US inflation - Conversion table

Initial Value Equivalent value
$1 dollar in 2004 $1.61 dollars in 2023
$5 dollars in 2004 $8.07 dollars in 2023
$10 dollars in 2004 $16.13 dollars in 2023
$50 dollars in 2004 $80.66 dollars in 2023
$100 dollars in 2004 $161.32 dollars in 2023
$500 dollars in 2004 $806.59 dollars in 2023
$1,000 dollars in 2004 $1,613.17 dollars in 2023
$5,000 dollars in 2004 $8,065.87 dollars in 2023
$10,000 dollars in 2004 $16,131.74 dollars in 2023
$50,000 dollars in 2004 $80,658.71 dollars in 2023
$100,000 dollars in 2004 $161,317.42 dollars in 2023
$500,000 dollars in 2004 $806,587.09 dollars in 2023
$1,000,000 dollars in 2004 $1,613,174.19 dollars in 2023
Cumulative inflation From 2004 62.98%
Avg. annual inflation From 2004 2.47%
CPI 2004 79.69
CPI today 129.88

Value of Dollar over time (by year)

Period Value
2004 15,200,000
2005 15,715,698.65
2006 16,222,676.91
2007 16,685,458.16
2008 17,326,028.83
2009 17,264,427.28
2010 17,547,570.88
2011 18,101,521.35
2012 18,476,101.19
2013 18,746,745.95
2014 19,050,860.81
2015 19,073,459.04
2016 19,314,089.8
2017 19,725,504.31
2018 20,207,299.89
2019 20,573,510.3
2020 20,827,301.75
2021 21,805,732.05
2022 23,550,800.97
2023 24,520,247.67
2023-12 24,684,756.25
Today 24,773,170.15

All available years

Today's value of US dollars by year:

1956 | 1957 | 1958 | 1959 | 1960 | 1961 | 1962 | 1963 | 1964 | 1965 | 1966 | 1967 | 1968 | 1969 | 1970 | 1971 | 1972 | 1973 | 1974 | 1975 | 1976 | 1977 | 1978 | 1979 | 1980 | 1981 | 1982 | 1983 | 1984 | 1985 | 1986 | 1987 | 1988 | 1989 | 1990 | 1991 | 1992 | 1993 | 1994 | 1995 | 1996 | 1997 | 1998 | 1999 | 2000 | 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 | 2008 | 2009 | 2010 | 2011 | 2012 | 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |

Other currencies: