The purchasing power P of a $60,000 pension after t years of 3% annual inflation is modeled

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The purchasing power P of a $60,000 pension after t years of 3% annual inflation is modeled by
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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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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Question Posted: Feb 09, 2018 05:29 AM

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The purchasing power P of a $60,000 pension after t years of 3% annual inflation is modeled

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Mathematical Applications for the Management Life and Social Sciences

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