Question: Given the inflation model C(t)=C0(1+r)^t and given that a car that currently sells for $50,600 sold for $23,00055 years ago, what has the average annual

Given the inflation model C(t)=C0(1+r)^t and given that a car that currently sells for $50,600 sold for $23,00055 years ago, what has the average annual rate of inflation been for the past 5 years? Round to two decimal places.

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