Maggie was recently quoted an interest rate of 6.56% for a new car loan. The inflation rate

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Maggie was recently quoted an interest rate of 6.56% for a new car loan. The inflation rate is currently 3%. What was the real interest rate for Maggie's loan?

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Introduction to Finance Markets Investments and Financial Management

ISBN: 978-1118492673

15th edition

Authors: Melicher Ronald, Norton Edgar

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Posted Date: May 18, 2023 09:05 AM

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Maggie was recently quoted an interest rate of 6.56% for a new car loan. The inflation rate

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Introduction to Finance Markets Investments and Financial Management

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