28. Interest rates: Imagine you borrow $500 from your roommate plus 7 percent nominal interest in one year. Assume inflation over the life of the contract is expected to be 4.25 percent. What does the total dollar amount you will have to pay her back in a year? What percentage of the interest payment is the result of the real rate of interest? agreeing to pay her back $500 29. Interest rates: Your parents have given you $1,000 a year before your graduation so that you can take a trip when you graduate. You wisely decide to invest the money in a bank CD that pays 6.75 percent interest. You know that the trip costs $1,025 right now and that inflation for the year is predicted to be 4 percent. Will you have enough money in a year to purchase the trip