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  • 22-02-2024
  • Business
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If the rate of inflation is 5.1%, what nominal interest rate is necessary for you to earn a 2.2% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.)
a) 7.89%
b) 3.24%
c) 2.12%
d) 8.63%

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