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

Multiple Choice

The purchasing power P (in dollars) of an annual amount of A dollars after t years of 4% inflation decays according to . Determine how large a pension A needs to be so that the purchasing power P is $70,000 after 25 years? Round your answer to the nearest dollar. ​

A) $260,683
B) $190,280
C) $115,410
D) $156,191
E) $95,141