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In 1990, a bank clerk earned $6,000 a year. How much does he earn today (2022) if his yearly salary increases at the rate of

In 1990, a bank clerk earned $6,000 a year. How much does he earn today (2022) if his yearly salary increases at the rate of 4% per annum? If inflation averages 4% annually during this period, what is the rate of increase in his salary in real terms?

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