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If the rate of inflation is 5.3%, what nominal interest rate is necessary for you to earn a 2.4% real interest rate on your investment?

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If the rate of inflation is 5.3%, what nominal interest rate is necessary for you to earn a 2.4% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.) The nominal interest rate is %. (Round to two decimal places.)

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