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Question Suppose that $6500 is invested for 13 years at an annual effective rate of interest of 5% and an inflation rate of 1.7%. Determine
Question Suppose that $6500 is invested for 13 years at an annual effective rate of interest of 5% and an inflation rate of 1.7%. Determine the increase in the purchasing power at the end of 13 years after you take inflation into account. Possible Answers A 56.37% B 51.46% 42.29% D 36.35% E 24.78%
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