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Problem #3: A person's savings earns an effective annual rate of return of 6.75%. If the inflation rate is 2.38% per year, what is [3

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Problem #3: A person's savings earns an effective annual rate of return of 6.75%. If the inflation rate is 2.38% per year, what is [3 marks] the real rate of return? (A) 4.27% (B) 4.66% (C) 4.14% (D) 4.53% (E) 4.4% Problem #3: Select

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