Multiple Choice
At an inflation rate of 9 percent,the purchasing power of $1 would be cut in half in 8.04 years.How long to the nearest year would it take the purchasing power of $1 to be cut in half if the inflation rate were only 4%?
A) 12 years
B) 15 years
C) 18 years
D) 20 years
E) 23 years
Correct Answer:
Verified
Correct Answer:
Verified
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