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:
x=11
Step-by-step explanation:
Simplifying X= 7+4
therefore x=11
pass
Step-by-step explanation:
Answer:
320
Step-by-step explanation:
if he received 10 less than half then you would just have to add that 10 back and multiply by 2.
150+10=160*2=320
Answer and Step-by-step explanation:
