Inflation rate calculations for purchasing power
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%?
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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%?
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