The purchasing power P (in dollars) of an annual amount of A dollars after t years of 4% inflation decays according to . How long will it be before a pension of $60,000 per year has a purchasing power of $30,000? Round your answer to one decimal place.
A)1.0 year
B)9.7 years
C)15.8 years
D)35.7 years
E)17.3 years

Question

The purchasing power P (in dollars) of an annual amount of A dollars after t years of 4% inflation decays according to  . How long will it be before a pension of $60,000 per year has a purchasing power of $30,000? Round your answer to one decimal place. ​
A)1.0 year 
B)9.7 years 
C)15.8 years 
D)35.7 years 
E)17.3 years

Quizplus · Accepted Answer

The Answer of The purchasing power P (in dollars) of an annual amount of A dollars after t years of 4% inflation decays according to  . How long will it be before a pension of $60,000 per year has a purchasing power of $30,000? Round your answer to one decimal place. ​
A)1.0 year 
B)9.7 years 
C)15.8 years 
D)35.7 years 
E)17.3 years

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