The average inflation rate in Canada is 3% per year. It means that purchasing power of $1 decreases in one year to $0.9
Posted: Wed Jul 06, 2022 1:26 pm
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.