Question
If the rate of inflation is 4.4%, what nominal interest rate is necessary for you to earn a 3% real interest rate on your investment?
If the rate of inflation is 4.4%, what nominal interest rate is necessary for you to earn a 3% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.)
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Investments
Authors: Zvi Bodie, Alex Kane, Alan Marcus, Lorne Switzer, Maureen Stapleton, Dana Boyko, Christine Panasian
9th Canadian Edition
1259271935, 9781259271939
