Suppose the money stock grows at $9\%$ per year, real GDP grows at $2\%$ per year, the velocity of money is constant and the nominal interest rate is $8\%.$ Then the real interest rate is

Suppose the money stock grows at $9\%$ per year, real GDP grows at $2\%$ per year, the velocity of money is constant and the nominal interest rate is $8\%.$ Then the real interest rate is

None of the other answers.

$4\%$

$3\%$

$6\%$

$5\%$