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Consider the following: -Money grows at a rate of 6% -Velocity is constant -Output grows at a rate of 3% The real interest rate is

Consider the following:

-Money grows at a rate of 6%

-Velocity is constant

-Output grows at a rate of 3%

The real interest rate is 2.5%

Find the nominal interest rate. Express your answers as a percentage. Make sure your answers to the nearest 100th percentage point.

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