Question: Question 11 Your answer is partially correct. Try again. You lent $510 to a friend for one year at a nominal rate of interest of

Question 11 Your answer is partially correct. Try again. You lent

Question 11 Your answer is partially correct. Try again. You lent $510 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 decimalpace, eg. 52.75% 97 The purchasing powerincreased Click if you would like to Show Work for this question: by Open Show Work Question Attempts: 1 of 2 used

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