Inflation Rate Calculations for Purchasing Power
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At an inflation rate of 9 percent, the purchasing power of $1 would be cut in half in 8.04 years. How long to the nearest year would it take the purchasing power of $1 to be cut in half if the inflation rate were only 4%?
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Solution Summary
Calculations show how to find the purchasing power in a dollar after about 8 years at an inflation rate of 9%.
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