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Assume inflation is 0.16% per month. Would you rather earn a nominal return of 0.76% per month, compounded monthly, or a real return of 6.54%

Assume inflation is 0.16% per month. Would you rather earn a nominal return of 0.76% per month, compounded monthly, or a real return of 6.54% APR, compounded annually?

(Note: Be careful not to round any intermediate steps less than six decimal places.)

The annual rate for the nominal return of 0.76% per month is ______

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