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Suppose that you invest $ 1,000 today at an annual rate of 8%. Assuming that the exepcted annual rate of inflation is 3%, what will

Suppose that you invest $ 1,000 today at an annual rate of 8%. Assuming that the exepcted annual rate of inflation is 3%, what will be your increase in purchasing power in percentage terms? Enter your answer as a percent without the %. Round your final answer to two decimals.

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