When the average price of an item increases from p, to p, over a period of n years, the annual rate of inflation r (in decimal form) is given by r= P21/n - 1. The average price of a loaf of bread increased from $1.00 in 1980 to $3.20 in 2013. What
is the annual rate of inflation r ? Write your answer in decimal form to the nearest hundredth.