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Suppose inflation decreases the value of money by 3% per year. Which formula describes an = the value (in dollars) of $1000 after nyears? a.

Suppose inflation decreases the value of money by 3% per year. Which formula describes an = the value (in dollars) of $1000 after nyears?

a.

an = 1000(0.03)n.

b.

an = (0.03)n1000.

c.

an = n (0.97)1000.

d.

an = (0.97)n 1000.

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