Your interest formula is given to you.
<span>Interest in a year = principal (the amount invested) * rate (the interest rate) * period (the time you're measuring) </span>
<span>Interest = 55,000 * 2% * 1 year = 55,000 * 0.02 * 1 = $1,100 </span>
<span>How much would you need to have made for your spending power to keep with inflation? Your interest rate would have needed to match the inflation rate, otherwise, prices are going up faster than you're saving. </span>
<span>Required interest = 55,000 * 3.24% * 1 year = 55,000 * 0.0324 * 1 = $1,782 </span>
<span>How much buying power did you lose? The difference between your required interest and your actual interest. </span>
<span>Buying power lost = 1,782 - 1,100 = $682. You lost this much in buying power. </span>
If the order of the numbers in the question are the order Darrin put theem in then no, his work is not correct. this is because 7.25 is not greater than 7.52. the real order should be 7.52,7.25, 5.72, 5.27
Answer:
x = 2/5
Step-by-step explanation:
5x=2
Divide each side by 5
5x/5 = 2/5
x = 2/5
Liar. This is only worth 5 points!!!!!!!!!!!!!!!!!!!!
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