If the interest rate is 4.6% per year, how long will it take for your money toquadruplein
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Question:
| If the interest rate is 4.6% per year, how long will it take for your money toquadruplein value?(Do not your intermediate calculations.Round your answer to 2 decimal places.) |
| Number of years |
| b. | If the inflation rate is 3.3% per year, what will be the change in the purchasing power of your money over this period?(Do not round intermediate calculations. Round your answer to 2 decimal places.) |
| Purchasing power (Click to select)decreasesincreases/ increase
by what %. |
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