The Purchasing Power P (In Dollars) of an Annual Amount

question 97

Multiple Choice

The purchasing power P (in dollars) of an annual amount of A dollars after t years of 4% inflation decays according to . How long will it be before a pension of $60,000 per year has a purchasing power of $30,000? Round your answer to one decimal place. ​

• A)1.0 year
• B)9.7 years
• C)15.8 years
• D)35.7 years
• E)17.3 years

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