The average inflation rate in Canada is 3% per year. It means that purchasing power of $1 decreases in one year to $0.9

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answerhappygod
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The average inflation rate in Canada is 3% per year. It means that purchasing power of $1 decreases in one year to $0.9

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The average inflation rate in Canada is 3% per year. Itmeans that purchasing power of $1 decreases in one year to $0.97and in n years – to0.97n Calculate this decreasein time period of 20 years. Use atleast two terms of the appropriate Maclaurin series. Youdo not have to derive Maclaurin seriescoefficients; you may use series expansion formulas fromtext. Showyour complete calculations. Compare yourresult with the calculator value.
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