You lent $700 to a friend for one year at a nominal rate of interest of 4 percent. Inflation during that year was 3 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, eg. 52.75%.) The purchasing power by Click if you would lik decreased ork for this question: Open Showi Work increased Question Attempts: 0 of 2 used SAVE FOR LATER SUBMIT ANSWER by Study