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QUESTION 1 You have $425 today which is enough to buy 17 shirts. If the price of shirts are expected to increase by 2% over

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QUESTION 1 You have $425 today which is enough to buy 17 shirts. If the price of shirts are expected to increase by 2% over the next year, what (precise) nominal rate would you have to earn to be able to buy 20 shirts next year? 15.2% 20% 17.65% 19.65%

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