Question: To estimate when your money will be worth half of what it is worth today, divide 72 by the expected average annual rate of inflation.
To estimate when your money will be worth half of what it is worth today, divide 72 by the expected average annual rate of inflation. If the long-term annual rate of inflation is 3%, in how many years will your money be worth half of its current value? What if the average annual inflation rate increases to 4%?
Step by Step Solution
3.48 Rating (161 Votes )
There are 3 Steps involved in it
At 3 annual inflation it will take ... View full answer
Get step-by-step solutions from verified subject matter experts
Document Format (1 attachment)
929-B-F-R-A (894).docx
120 KBs Word File
