Given the inflation model C(t)=C0(1+r)t and given that a boat that currently sells for $385,290 sold for $142,700 7 years ago, what has the average annual rate of inflation been for the past 7 years? Round

Given the inflation model C(t)=C0(1+r)t and given that a boat that currently sells for $385,290 sold for $142,700 7 years ago, what has the average annual rate of inflation been for the past 7 years? Round to two decimal places.

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Given the inflation model C(t)=C0(1+r)t and given that a boat that currently sells for $385,290 sold for $142,700 7 years ago, what has the average annual rate of inflation been…

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