6. [-73.84 Points] DETAILS HARMATHAP12 5.3.027.MI. MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER The purchasing power P (in dollars) of an annual amount of A dollars after t years of 5% inflation decays according to the following formula.+ P = Ae-0.05t (a) How long will it be before a pension of $60,000 per year has a purchasing power of $20,000? (Round your answer to two decimal places.) t = yr (b) How much pension A would be needed so that the purchasing power P is $40,000 after 17 years? (Round your answer to the nearest dollar.)