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(a) If the interest rate is 5.8% per year, how long will it take for your money to quadruple in value? (Do not your intermediate
(a) If the interest rate is 5.8% per year, how long will it take for your money to quadruple in value? (Do not your intermediate calculations. Round your answer to 2 decimal places.)
(b) If the inflation rate is 3.9% per year, what will be the change in the purchasing power of your money over this period?
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