Question: Please use excel spreadsheet and show formula input. 30. You borrow $1,000 and agree to pay it back in one year plus 8% nominal interest.

Please use excel spreadsheet and show formula input. 30. You borrow

Please use excel spreadsheet and show formula input.

30. You borrow $1,000 and agree to pay it back in one year plus 8% nominal interest. Assume inflation is expected to be 6.26% for the year. What is the dollar amount you have to pay back and what is the real rate of interest

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