A farm increases in value from $800,000 to $1,100,000 over a period of 6 years. Use the formula r=(F/P)^1/n−1 to find the annual
inflation rate r to the nearest tenth of a percent, where n is the number of years during which the value increases from P to F. A farm increases in value from $800,000 to $1,100,000 over a period of 6 years. Use the formula r=(FP)1/n−1 to find the annual inflation rate r to the nearest tenth of a percent, where n is the number of years during which the value increases from P to F.
