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Nancy had an income of [tex]$26,500 this year.
If the inflation rate was 11 percent, what was her purchasing power?
O $[/tex]29,415
○ [tex]$26,500
O $[/tex]24,535
O $23,585

Sagot :

GinnyAnswer
To determine Nancy's purchasing power with an income of [tex]$26,500 and an inflation rate of 11%, we need to follow these steps: 1. Calculate the reduction in purchasing power due to inflation: - First, find 11% of $[/tex]26,500.
- So, 0.11 * [tex]$26,500 = $[/tex]2,915

2. Subtract this reduction from her original income to find her new purchasing power:
- Her purchasing power is now [tex]$26,500 - $[/tex]2,915 = [tex]$23,585. Therefore, Nancy's purchasing power, taking into account the 11% inflation rate, is: - $[/tex]23,585

So, the correct answer is:
○ $23,585
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