ction 5.7 els Practice Question 8, 5.7.59 HW Score: 66.67%, 6 of 9 points O Points: 0 of 1 K If the rate of inflation averages r per annum over n years, the amount A that $P will purchase after n years is A = P(1-r), where r is expressed as a decimal. If the amount that $2500 will purchase is only $2300 after 4 years, what was the average inflation rate? The average inflation rate was (Round to two decimal places as needed.) Save G

If the rate of inflation averages r per annum over n yoars, the amount A that \$P will purchase after n years is A=P(1r)n, where r is expressed as a decimal If the amount that $2500 will purchase is only $2300 atter 4 years, what was the average inflation rate? The average inflation rate was (Round to two decimal places as needed.)