We solve the question as follows:
Simple interest=Principle×Rate×Time
Thus given:
p=$55000, R=2.5%, time= 1 year
thus
Interest=55000×0.025×1=$1375
To evaluate the amount required to keep up with the inflation, your interest rate should match the inflation rate otherwise prices are going up faster than the savings.
Required interest rate=55000×0.034×1=$1870
The buying power lost will be the difference between your required interest and actual interest.
Thus:
Buying power lost=1870-1375=$495
Answer:
1/2
Step-by-step explanation:
look at all the numbers then look at only the negatives which are 2 then count the positive ones which are 4 from those numbers you get 2/4 simplify it, and you get 1/2.
Answer:
7i=4.5
Step-by-step explanation:
Hope this helps
