In 1975, interest rates were 7.85% and the rate of inflation was 12.3 % in the United States. What was the real interest rate in 1975? How would the purchasing power of your savings have changed over the year? (Note: Be careful not to round any intermediate steps less than six decimal places.) 14. What was the real interest rate in 1975? Real rate of interest in 1975 was % ( Round to two decimal places.) How would the purchasing power of your savings have changed over the year? The purchasing power over that year did the following: lect the best choice below.) (Select the best choice below.) OA. Declined by 4.45 % B. Declined by 3.96 % O C. Increased by 3.96 % O D. Increased by 4.45 %