Question: Need help!!! Your answer is partially correct. Try again. You lent $500 to a friend for one year at a nominal rate of interest of

Need help!!! Need help!!! Your answer is partially correct. Try again. You lent $500

Your answer is partially correct. Try again. You lent $500 to a friend for one year at a nominal rate of interest of 4 percent. Inflation during that year was 3 percent. Did you experience an increase or decrease in the purchasing power of your money? How much did it increase or decrease? (Round answer to 2 decimal places... 52.75%) The purchasing power Increased 97 by Click if you would like to Show Work for this question: Doen Show Work

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