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The bank is paying 5.3% compounded annually. The inflation is expected to be 2.4% per year. What is the market interest rate? Enter your answer

The bank is paying 5.3% compounded annually. The inflation is expected to be 2.4% per year. What is the market interest rate? Enter your answer as percentage, without the % sign. Provide 2 decimal places. For example, if 12.34%, enter: 12.34

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