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A bond that pays interest annually yielded 7.92 percent last year. The inflation rate for the same period was 3 percent. What was the actual

A bond that pays interest annually yielded 7.92 percent last year. The inflation rate for the same period was 3 percent.

What was the actual real rate of return on this bond for last year?

(round answer to whole number with two decimal points: i.e., use 1.23 percent instead of 0.0123)

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