Question
If the rate of inflation is 5.7%, what nominal interest rate is necessary for you to earn a 3% real interest rate on your investment?
If the rate of inflation is 5.7%, 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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Financial Markets And Institutions
Authors: Jeff Madura
13th Edition
0357130790, 978-0357130797
