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Due to general price inflation in our economy, the purchasing power of the dollar decreases over time. If the average headline inflation rate is expected
Due to general price inflation in our economy, the purchasing power of the dollar decreases over time. If the average headline inflation rate is expected to be 7% annually for the foreseeable future, how many years will it take for the purchasing power of the dollar to be half of what it is now?
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We can use the Rule of 72 to estimate the number of years it will take for the purchasing power of t...
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Contemporary Engineering Economics
Authors: Chan S. Park
5th edition
136118488, 978-8120342095, 8120342097, 978-0136118480
