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7) If the rate of inflation is 5.1%, what nominal interest rate is necessary for you to earn a 2.8% real interest rate on your

7) If the rate of inflation is 5.1%, what nominal interest rate is necessary for you to earn a 2.8% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.)

The nominal interest rate is ______%

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