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Question
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
Answer
This answer is hidden. It contains 557 characters.
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