Your investments increased in value by 16.3 percent last year, but your purchasing power increased by only 7.5 percent What was the approximate inflation rate? (Enter your answer as a percent rounded to 1 decimal place.)

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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Your investments increased in value by 16.3 percent last year, but your purchasing power increased by only 7.5 percent What was the approximate inflation rate? (Enter your answer as a percent rounded to 1 decimal place.)
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