The purchasing power P (in dollars) of an annual amount of A dollars after t years of 4% inflation decays according to . How long will it be before a pension of $60,000 per year has a purchasing power of $30,000? Round your answer to one decimal place.
?

A. 1.0 year
B. 9.7 years
C. 15.8 years
D. 35.7 years
E. 17.3 years


Answer: E

Mathematics

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