Multiple Choice
Rounded to the nearest month, calculate how long it will take for $1,000 to decline to $643.68 due to a 5.2% inflation rate.
A) 9 years and 6 months
B) 9 years and 3 months
C) 8 years and 9 months
D) 8 years and 6 months
E) 8 years and 3 months
Correct Answer:
Verified
Correct Answer:
Verified
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