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Inflation over the past 5 years (2015-2011) has been 2.2% per year. Suppose that at the beginning of 2011, you put $1002.42 under your mattress

Inflation over the past 5 years (2015-2011) has been 2.2% per year. Suppose that at the beginning of 2011, you put $1002.42 under your mattress and left it there until the end of 2015. What is the remaining purchasing power of your savings at the end of 2015?

$798.40

648.80

$896.90

None of the Above

978.47

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