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If the nominal interest rate is 6% and the inflation rate is 3%, what is the real interest rate? Use the exact formulation rather than

image text in transcribed If the nominal interest rate is 6% and the inflation rate is 3%, what is the real interest rate? Use the exact formulation rather than the approximation. Enter your answer as a percentage. Do not enter the percentage sign as part of your answer. Enter your response below (rounded to 2 decimal places). %

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