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:
34285714285/100000000000
Step-by-step explanation:
To write 0.34285714285 as a fraction you have to write 0.34285714285 as the numerator and put 1 as the denominator. Now you multiply the numerator and denominator by a number that makes the numerator to a whole number.
And finally, we have:
0.34285714285 as a fraction equals 34285714285/100000000000
Answer:
1780
Step-by-step explanation:
product means multiply
20x89=1780
The expression would be 2.98 * 10 to the -7 power? Please tell me if I'm wrong.
