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You deposited $ 1 , 0 0 0 in the bank. Today, the real interest rate is 2 % . Inflation is expected to be

You deposited $1,000 in the bank. Today, the real interest rate is 2%. Inflation is expected to be 6% next year. What percentage of interest will you ask the bank to charge for the money you deposit? How much will the money increase to after a year with this required interest rate? Can you buy a bike that is currently selling for 1050 with the money you have in savings in a year?

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