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If the rate of inflation is 4 . 0 2 % , what nominal interest rate is necessary for you to earn a 2 .

If the rate of inflation is 4.02%, what nominal interest rate is necessary for you to earn a 2.81% real interest rate on your investment? (Note: Be careful not to round any
intermediate steps less than six decimal places.)
The nominal interest rate needed for your investment is
%.(Round to two decimal places.)
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