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Posted on May 18, 2024

A certain loan has a stated interest rate of 1 0 . 6 % . If the current inflation rate is 3 . 9 %

A certain loan has a stated interest rate of

10.6 % .

If the current inflation rate is

3.9 %,

what is the real interest rate on this loan? the correct answer is

6.45

but show how to get there please

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