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At EOY 2021, Beta Bank offers a one year CD with an APR of 8% compounded quarterly. Inflation (rinf) is running at 7% annually at

At EOY 2021, Beta Bank offers a one year CD with an APR of 8% compounded quarterly. Inflation (rinf) is running at 7% annually at this time period. What is the real rate of return on this CD? Do not round Intermediate calculations. Round to four decimal places and do not answer as a percentage.

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