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show the work on a calculator A homebuyer is offered a loan having APR of 8%, compounded monthly. During the first year of the loan

image text in transcribedshow the work on a calculator

A homebuyer is offered a loan having APR of 8%, compounded monthly. During the first year of the loan term, there is inflation of 2%. Part A What is the nominal interest rate for this loan? Part B What is the effective interest rate for this loan? Part C What is the real rate of interest for this loan

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