Answer:
They lose about 2.79% in purchasing power.
Step-by-step explanation:
Whenever you're dealing with purchasing power and inflation, you need to carefully define what the reference is for any changes you might be talking about. Here, we take <em>purchasing power at the beginning of the year</em> as the reference. Since we don't know when the 6% year occurred relative to the year in which the saving balance was $200,000, we choose to deal primarily with percentages, rather than dollar amounts.
Each day, the account value is multiplied by (1 + 0.03/365), so at the end of the year the value is multiplied by about
... (1 +0.03/365)^365 ≈ 1.03045326
Something that had a cost of 1 at the beginning of the year will have a cost of 1.06 at the end of the year. A savings account value of 1 at the beginning of the year would purchase one whole item. At the end of the year, the value of the savings account will purchase ...
... 1.03045326 / 1.06 ≈ 0.9721 . . . items
That is, the loss of purchasing power is about ...
... 1 - 0.9721 = 2.79%
_____
If the account value is $200,000 at the beginning of the year in question, then the purchasing power <em>normalized to what it was at the beginning of the year</em> is now $194,425.14, about $5,574.85 less.
Answer:
4 and -4
Step-by-step explanation:
> means greater than
x² > 10
4² > 10 → True, 16 is greater than 10
-4² > 10 → True, 16 is greater than 10
Answer:
x = 1 or x = -5
Step-by-step explanation:
We are given;
- The quadratic equation, x² + 4x - 13 = -8
We are required to solve the equation using the completing square method.
To do this, we use the following steps;
Step 1: We make sure the coefficient of x² is one
x² + 4x - 13 = -8
Step 2: Combine the like terms (take the constant term to the other side)
x² + 4x - 13 = -8
x² + 4x = -8 + 13
we get
x² + 4x = 5
Step 3: We add the square of half the coefficient of x on both sides of the equation
Coefficient of x = 4
Half of coefficient of x = 2
Square of half the coefficient of x = 2² (4)
We get;
x² + 4x + (2²) = 5 + (2²)
Step 4: Put x and 2 under one square and the solve the other side of the equation.
We get
(x + 2)² = 5 + 4
(x + 2)² = 9
Step 5: Get the square root on both sides of the equation;
(x + 2)² = 9
√(x + 2)² = ±√9
(x + 2)= ±3
Therefore;
x+2 = + 3 or x + 2 = -3
Thus, x = 1 or -5
The solution of the equation is x = 1 or x = -5
