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A man bought a 6% tax-free municipal bond. It cost $10,000 and will pay $600 interest each year for 10 years. At maturity the bond

A man bought a 6% tax-free municipal bond. It cost $10,000 and will pay $600 interest each year for 10 years. At maturity the bond returns the original $10,000. If there is 3% annual inflation, what real rate of return will the investor receive

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