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Posted on Sep 30, 2024

Suppose you received $ 1 , 0 7 7 from a $ 1 , 0 0 0 investment you made one year ago. However, the

Suppose you received $

1, 077

from a $

1, 000

investment you made one year ago. However, the items you could purchase one year ago for $

1, 000

now cost $

1, 040 .

What is the real interest rate that you earned on your investment?

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