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g0606997
29.10.2019 •
Mathematics
You have 55,000 in your savings account that pays 2.5% annual interest and the inflation rate is 3.4%. how much buying power will you lose in one year because of inflation?
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Ответ:
Simple interest=Principle×Rate×Time
Thus given:
p=$55000, R=2.5%, time= 1 year
thus
Interest=55000×0.025×1=$1375
To evaluate the amount required to keep up with the inflation, your interest rate should match the inflation rate otherwise prices are going up faster than the savings.
Required interest rate=55000×0.034×1=$1870
The buying power lost will be the difference between your required interest and actual interest.
Thus:
Buying power lost=1870-1375=$495
Ответ:
yes
Step-by-step explanation:
it doesn't have the same length so one sides gonna be longer