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A retired schoolteacher put $25,000 in savings account at a local community bank. The savings account pays 1.55% interest, compounded quarterly. Due to unexpected economic

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A retired schoolteacher put $25,000 in savings account at a local community bank. The savings account pays 1.55% interest, compounded quarterly. Due to unexpected economic conditions, the annual inflation rate was calculated at 6.50%. What is the impact of the purchasing power of the schoolteacher's savings account after one year

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