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    Exam 9: Compound Interest: Further Topics and Applications
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    Rounded to the Nearest Month, How Long Will It Take
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Rounded to the Nearest Month, How Long Will It Take

Question 35

Question 35

Short Answer

Rounded to the nearest month, how long will it take money to lose 25% of its purchasing power if the annual rate of inflation is:
a) 2%
b) 4%

Correct Answer:

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a) 14 year...

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