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bagirrra123 [75]
3 years ago
13

You have had $5,500 in a Roth IRA account for 3 years earning 1.2% annual interest. During those 3 years, the rate of inflation

was 1.8% per year. Did the purchasing power of your Roth IRA dollars increase or decrease over 3 years.
Business
1 answer:
erma4kov [3.2K]3 years ago
8 0

Answer:

Loss in purchasing power =$(96.67)

Explanation:

To determine the change in purchasing power, we will compare the value of the IRA after 3 years to its purchasing power in term the prices there years ago.

The value of 5,500 in 3 years time = 5,500 × 1.012^3 = 5700.385

The purchasing power of 57,000.38 in term's of the price 3 years ago

=5700.385504 × 1/(1.018^3)

= $5403.32

Change in purchasing power =  $5403.32 -  $5,500= $(96.67)

Loss in purchasing power =$(96.67)

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2 years ago
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Pinder co. produces and sells high-quality video equipment. to finance its operations, pinder co. issued $25,000,000 of five-yea
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mihalych1998 [28]

Answer: (E) Meaningful, believable, and distinctive

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  The advertising appeal is one of the type of communication process in which the the various types of organizations and the companies using this business strategy for promoting their brands and the products in the market.

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3 years ago
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