You have $44,000 in a savings account that pays 2% annual interest and the inflation rate is 3.24%. how much buying power in dollars will you lose in one year because of inflation?

The effective annual interest rate would be the difference of nominal interest and inflation rate.

ieff = 2% - 3.24%

ieff = - 1.24% = -0.0124

Therefore the money left after 1 year would be:

F = 44,000 * (1 – 0.0124)

F = 43,454.4

So the amount of money lost is:

lost = 44,000 - 43,454.4

lost = $545.6

astronomers is your final answer! : )

question: how many people can she serve?

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question: does she have enough ice cream for her guests?

answer: no. explanation: she only has enough for 16 people to have a full serving. however, she can give a 17th person a partial serving.