Situation: Mrs. Theodora deposited $3000 into her bank account today. The current real interest rate is 4%, Inflation rate will be 8% over the next year as expected. What nominal rate would Mrs. Theodora demand from the bank over the next year? How much cash will she have at the end of 1 year? If she was saving to buy a sewing machine that currently sells for $3,250 will she have enough cash to buy it after 1 year? Please answer through proper calculations.