Question

Using the equation y=20000(0.95)^x what would the purchasing power of 20000 be in 5 years

Answer 1

the purchasing power of 20000 be in 5 years

Y=20,000×(0.95)^(5)
Y=15,475.62

Hope it helps

Answer 2

Answer: $15475.62

Explanation:

We are given the exponential equation below representing the purcahsing power :

`y=20000(0.95)^x`, where x is the number of years.

To find the purchasing power of 20000 be in 5 years, substitute x=5 in the above equation , we get

`y=20000(0.95)^5=15475.61875\approx\$15475.62`

Hence, the purchasing power of 20000 be in 5 years will be $ 15475.62.