
To find: Inflation is a term used to describe the erosion of the purchasing power of money. For example, if the annual inflation rate is , then worth of purchasing power now will have only worth of purchasing power in 1 year because of the original has been eroded due to inflation. In general, if the rate of inflation averages per annum over years, the amount A that will purchase after years is where is expressed as a decimal. Inflation If the average inflation rate is , how long is it until purchasing power is cut in half?

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