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If the rate of inflation averages r per annum over n years, the amount A that SP will purchase after n years is A
If the rate of inflation averages r per annum over n years, the amount A that SP will purchase after n years is A = P(1-r)", where r is expressed as a decimal. If the inflation rate averages 3.1%, how much will $2,000 purchase in 5 years? In 5 years, $2,000 will purchase $ (Round to the nearest cent as needed.)
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