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QUESTION
If the rate of ination is 5.9%, what nominal interest rate is necessary for you to earn a 3.7% real interest rate on your investment?
(Note: Be careful not to round any intermediate steps less than six decimal places.)
If the rate of inflation is 5.9%, what nominal interest rate is necessary for you to earn a 3.7% real interest rate on your investment? (Note: Be careful not to round anyintermediate steps less than six decimal places.) The nominal interest rate is %_ (Round to two decimal places.)