Inflation the purchasing power p of a 60000 pension after t, Engineering Mathematics

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Inflation the purchasing power p of a 60000 pension after t

Question: Inflation. The purchasing power P of a $60,000 pension after t years of 3% annual inflation is modeled by

P(t) = 60,000(0.97)^t

(a) What is the purchasing power after 20 years?

(b) Graph this function for t = 0 to t = 25 with a graphing utility.

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Engineering Mathematics: Inflation the purchasing power p of a 60000 pension after t

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Engineering Mathematics: Inflation the purchasing power p of a 60000 pension after t

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