A $4000 loan at 4.8% compounded monthly was settled by a single payment of $5000 including accrued interest. Rounded to the nearest day, how long after the initial loan was the $5000 payment made? For the purpose of determining the number of days in a partial month, assume that a full month has 30 days.

Rounded to the nearest month, how long will it take money to lose half of its purchasing power if the annual inflation rate is

a)2.5%?

b)3.5%?