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If the rate of inflation is 5.53 %, what nominal interest rate is necessary for you to earn a 2.38% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.) www. The nominal interest rate needed for your investment is%. (Round to two decimal places.)

If the rate of inflation is 5.53 %, what nominal interest rate is necessary for you to earn a 2.38% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.) www. The nominal interest rate needed for your investment is%. (Round to two decimal places.)

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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If the rate of inflation is 5.53 %, what nominal interest rate is necessary for you to earn a 2.38% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.) www. The nominal interest rate needed for your investment is%. (Round to two decimal places.)
Transcribed Image Text:If the rate of inflation is 5.53 %, what nominal interest rate is necessary for you to earn a 2.38% real interest rate on your investment? (Note: Be careful not to round any intermediate steps less than six decimal places.) www. The nominal interest rate needed for your investment is%. (Round to two decimal places.)
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