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Please make sure answer is correct TODAY, Cody invested $3,000 in an account paying 10% annual interest. He left the account untouched for 20 years.
Please make sure answer is correct
TODAY, Cody invested $3,000 in an account paying 10% annual interest. He left the account untouched for 20 years. During the 20 years, inflation averaged 4% per year. At the end of the 20 years, the BUYING POWER in terms of TODAY'S DOLLARS of the money in the account was closest to: $9,200 $44,200 $6,600 $20,200Step by Step Solution
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