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M If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A

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M If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A = P(1 - r), where r is expressed as a decimal. If the average inflation rate is 2.4%, how long is it until the purchasing power is cut in half? It will be about years until the purchasing power is cut in half. n: (Round to two decimal places as needed.) ive int Re

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