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
18k - 4k = -10 - 4k
18k - 4k + 4k = -10
18k = -10
k= (18/10) = (9/5) = 1.8
The correct answer is -5 ≤ x ≤ 7
Endpoints are included, and the x-values are between -5 and 7.
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