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Debra took out a mortgage with a 4 . 8 % interest rate when inflation was 1 . 4 % . Suppose inflation is now

Debra took out a mortgage with a

4.8 %

interest rate when inflation was

1.4 % .

Suppose inflation is now

6.3 % .

What would the

(

nominal

)

interest rate on a similar loan be today?

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