Multiple Choice
If your parents promised to give you $1,000 in cash every Christmas for the next 30 years, what would be the real purchasing power of the final $1,000 if the average annual inflation rate over this time period is 3 percent?
A) $820
B) $640
C) $520
D) $410
E) $320
Correct Answer:
Verified
Correct Answer:
Verified
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