Suppose the Bank of Argentina's balance sheet consists of 1500 pesos of domestic credit and 1500 pesos worth of dollar reserves. In addition, suppose the Argentinian Peso is pegged to the US Dollar. Argentina is the home country and the USA is the foreign country.

Suppose the price level in each country is P = P* = 1500, and the foreign interest rate is i*=0.03.

Money demand in Argentina is given by,

MP=0.03i

In order to maintain the fixed exchange rate in the short term, domestic credit grows at a rate of 0.0905 per period (i.e. 9.05% per period).

Assuming investors are myopic, what is the value of the nominal interest rate in Argentina after the crisis occurs?

(Answer can be given as a percentage or fraction. Example 10 or 0.1)