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You borrowed $200 and repaid $237 at the end of the year. During the year, inflation was 10%. What was the nominal interest rate, in
You borrowed $200 and repaid $237 at the end of the year. During the year, inflation was 10%. What was the nominal interest rate, in percent? (Please use the Fisher effect to approximate your answer if appropriate.) Round to one significant digit and do not enter the % sign. If your answer is 6.14%, enter 6.1. If your answer is 6.16%, enter 6.2. If appropriate, remember to enter the - sign
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