Question
If the rate of inflation is 4.8%, what nominal interest rate is necessary for you to earn a 4% real interest rate on your investment?
If the rate of inflation is 4.8%, what nominal interest rate is necessary for you to earn a 4% real interest rate on your investment?
(Note: Be careful not to round any intermediate steps less than six decimal places.)
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Personal Finance
Authors: Jack Kapoor, Les Dlabay, Robert J. Hughes
11th International Edition
1259094901, 9781259094903
