What would you expect the nominal rate of interest to be if the real rate is 4.1 percent and the expected inflation rate is 7.4 percent? The nominal rate of interest would be %. (Round to two decimal places.)

Assume the expected inflation rate is 3.9 percent. If the current real rate of interest is 6.9 percent, what should the nominal rate of interest be? The nominal rate of interest should be %. (Round to two decimal places.)