Due to general price inflation in our economy, the purchasing power of the dollar decreases over time. If the average headline inflation rate is expected to be 7% annually for the foreseeable future, how many years will it take for the purchasing power of the dollar to be half of what it is now?

Answer rating: 100% (QA)

We can use the Rule of 72 to estimate the number of years it will take for the purchasing power of t... View the full answer