We solve the question as follows:
Simple interest=Principle×Rate×Time
Thus given:
p=$55000, R=2.5%, time= 1 year
thus
Interest=55000×0.025×1=$1375
To evaluate the amount required to keep up with the inflation, your interest rate should match the inflation rate otherwise prices are going up faster than the savings.
Required interest rate=55000×0.034×1=$1870
The buying power lost will be the difference between your required interest and actual interest.
Thus:
Buying power lost=1870-1375=$495
Answer:
boonpono
Step-by-step explanation:
Do you have a picture for this problem? There are multiple different ways to solve this problem but I'll need a picture to help you.
Answer:
There is no solution because the slopes of the line are the same.
Step-by-step explanation:
4y - 4x = 48
+ 4x + 4x Add 4x to both sides
4y = 4x + 48 Divide both sides by 4
y = x + 12
Now set both equations equal to each other since they equal y
x + 12 = x - 11
-x - x Subtract x from both sides
12 ≠ -11 No Solution
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