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You are pleased to see that you have been given a 4.77% raise this year. However, you read on the Wall Street Journal Web site that inflation over the past year has been 2.96%. How much better off are you in terms of real purchasing power? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your real purchasing power is %. (Round to two decimal places.)

You are pleased to see that you have been given a 4.77% raise this year. However, you read on the Wall Street Journal Web site that inflation over the past year has been 2.96%. How much better off are you in terms of real purchasing power? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your real purchasing power 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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You are pleased to see that you have been given a 4.77% raise this year. However, you read on the Wall Street Journal Web site that inflation over the past year has been 2.96%. How much better off are you in terms of real purchasing power? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your real purchasing power is %. (Round to two decimal places.)
Transcribed Image Text:You are pleased to see that you have been given a 4.77% raise this year. However, you read on the Wall Street Journal Web site that inflation over the past year has been 2.96%. How much better off are you in terms of real purchasing power? (Note: Be careful not to round any intermediate steps less than six decimal places.) Your real purchasing power is %. (Round to two decimal places.)
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