he value of your investment increased by 9.77% last year, and your purchasing power decreased by 1.22%. What was the approximate inflation rate?

International Financial Management
14th Edition
ISBN:9780357130698
Author:Madura
Publisher:Madura
Chapter8: Relationships Among Inflation, Interest Rates, And Exchange Rates
Section: Chapter Questions
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The value of your investment increased by 9.77% last year, and your purchasing power decreased by 1.22%. What was the approximate inflation rate?

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