Personal Finance Tax Update
Personal Finance Tax Update
13th Edition
ISBN: 9780357438947
Author: E. Thomas Garman; Raymond Forgue
Publisher: Cengage Learning US
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Chapter 1, Problem 6DTM

Inflation. Laureen Mauer’s salary a year ago was $52,000. If inflation during the year was 3.5 percent in Tampa where she lives, how much of a decline in her purchasing power occurred? Also, what would be her purchasing power if deflation of 1 percent occurred?

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