University PRINTER VERSION BACK NEXT Question 11 Your answer is partially correct. Try again. You lent $100 to a friend for one year at a nominal rate of interest of 3 percent. Inflation during that year was 2 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, e.g. 52.75%.) Increased by The purchasing power Open Show Work Click if you would like to Show Work for this question: SUBMIT ANSWER SAVE FOR LATER Question Attempts: 1 of 2 used