The purchasing power (real value of money) decreases if inflation is present in the economy. For example, the purchasing

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The Purchasing Power Real Value Of Money Decreases If Inflation Is Present In The Economy For Example The Purchasing 1 (19.48 KiB) Viewed 60 times

The purchasing power (real value of money) decreases if inflation is present in the economy. For example, the purchasing power of $30,000 after t years of 6% inflation is given by the model P=30,000 e -0.06t dollars. How long will it take for the value of a $30,000 pension to have a purchasing power of $15,000 under 6% inflation? It will take years. (Type an integer or a decimal rounded to two decimal places as needed.)