Using the information from the previous question, if the inflation rate is 2.45%, what is the real interest rate? Round your answer to two (2) decimal places to right of the decimal.

• (Previous Question) Suppose you deposit $7,330 today at an interest rate of 8.50% interest compounded annually. Assuming no withdraws, how much would you have at the end of 6 years? Round to two decimal places to the right of the decimal. =11,958.66
• i*_t = [{(1 + i_t) / (1 + I_t)} - 1] x 100, where i* = real pre-tax interest rate, i = nominal interest rate, I = annual inflation/growth rate ...... This is all I have on nominal interest rate