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Problem 2: A $50 bill in 1957 worth only $6.58 in 2007 . What was the compounded average annual inflation rate (loss of purchasing power)

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Problem 2: A $50 bill in 1957 worth only $6.58 in 2007 . What was the compounded average annual inflation rate (loss of purchasing power) during this period of time? You may need the following formula to solve the problem: (F/P,i%,N)=(1+i)N

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