If you file for Chapter 7 or 11, it will remain on your credit report for up to 10 years. If you file for Chapter 13, it may stay on your report for up to seven years. A Chapter 11 bankruptcy will stay on the business's credit report, not the individual owner's, unless they file a personal bankruptcy.
Answer:Purchasing power in todayâs dollars = $289,287/1.02536 = $118,924. 4) You plan to save $7,000 each of the next 40 years, and invest that money in an account that pays 9% annual interest. In addition, you plan to pay for your childâs college education beginning in 20 years.
You can calculate purchasing power using U.S. Bureau of Labor Statistics data. Purchasing power is a reflection of the value of money&amp;mdash;not merely its stated value but its value as represented in how much that money can buy. In other words, $5 in 1950 bought considerably more than $5 buys today.