Question: *Please show work* 19. How much will you need 20 years from now to have the purchasing power of $100 today if the compound annual)

*Please show work* 19. How much will you need 20 years fromnow to have the purchasing power of $100 today if the compoundannual) rate of inflation during the period is: a. 2%? b. 3%?*Please show work*

19. How much will you need 20 years from now to have the purchasing power of $100 today if the compound annual) rate of inflation during the period is: a. 2%? b. 3%? c. 4%? 21. If the inflation rate for the next 10 years is 3.5% per year, what hourly rate of pay in 10 years will be equivalent to $15/hour today? 23. Mr. and Mrs. Rasuli would like to retire in 15 years at an annual income level that would be equivalent to $35,000 today. What is their retirement income goal if, in the meantime, the annual rate of inflation is: a. 2%? b. 3%? c. 5%

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