Answer:
 The purchasing power of $24,035 if the inflation rate is five percent is $25300 .
Step-by-step explanation:
Let us assume that the purchasing power of  $24,035 be y .
As given inflation rate is 5% .
(As inflation rate is inversely proportional to purchasing power .)
Assume that purchasing power be 100% .
Thus as inflation rate is increase by 5% than purchasing power decrease by 5 % .
Thus 
Purchasing power = (100 - 5)% 
                                = 95 % 
95% is written in the decimal form .

= 0.95 
Thus the equation becomes 
0.95 × y = 24035 



y = $25300
Therefore the purchasing power of $24,035 if the inflation rate is five percent is $25300 .