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You have$675 today which is enough to buy 375 bottles of Diet Pepsi. If the price of Diet Pepsi is expected to increase by4% over

You have$675 today which is enough to buy 375 bottles of Diet Pepsi. If the price of Diet Pepsi is expected to increase by4% over the nextyear, what approximate nominal rate would you have to earn to be able to buy 400 bottles of Diet Pepsi nextYear?

The correct answer is 10.67%, how do you get to this answer?

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