The purchasing power P of a $60,000 pension after t years of 3% annual inflation is modeled
Question:
P(t) = 60,000(0.97)t
(a) What is the purchasing power after 20 years?
(b) Graph this function for t = 0 to t = 25 with a graphing utility.
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Related Book For
Mathematical Applications for the Management Life and Social Sciences
ISBN: 978-1305108042
11th edition
Authors: Ronald J. Harshbarger, James J. Reynolds
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