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If the annualized rate of return on insured tax-exempt municipal bonds will be 3% per annum and the inflation rate remains at 2% per annum,

If the annualized rate of return on insured tax-exempt municipal bonds will be 3% per annum and the inflation rate remains at 2% per annum, then what will be their real rate of return over 30 years?

The answer is 34% but not sure how she got there

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