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You learn on the business channel that inflation was about 0.3% last month. Assume this rate is maintained each month for a year. What will

You learn on the business channel that inflation was about 0.3% last month. Assume this rate is maintained each month for a year. What will the annualized rate be? EXAMPLE: A rate of 0.1% per month represents (1 + 0.001)12 -1 = 0.0121 or 1.21% annually.

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