The purchasing power (real value of money) decreases if inflation is present in the economy. For example, the purchasing power of SR after t years of 6% inflation is given by the model shown below. P=R(0.94') dollars
What will be the purchasing power of $40,000 after 20 years of 6% inflation?
The purchasing power of $40,000 will be about $ after 20 years.
(Round to the nearest cent as needed.)