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12) In 1975, interest rates were 7.85% and the rate of inflation was 12.3% in the United States. What was the real interest rate in
12) In 1975, interest rates were 7.85% and the rate of inflation was 12.3% in the United States. What was the real interest rate in 1975? How would the purchasing power of your savings have changed over the year? (Note: Be careful not to round any intermediate steps less than six decimal places.)
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