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At EOY 2021, AlphaBank offers a one year CD with an APR of 3%, compounded quarterly (convert the APR to an EAIR). Inflation (r inf

At EOY 2021, AlphaBank offers a one year CD with an APR of 3%, compounded quarterly (convert the APR to an EAIR). Inflation (rinf) is running at 4%. What is the real rate of return on this CD? Do not round intermediate calculations. Round your answer to four decimal places and do not represent your answer as a percent.

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