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Business, 29.02.2020 06:19 jholland03

Cambridge State Bank is paying 7% interest on its one-year certificate of deposit. Ifthe inflation rate is 4%, which of the following is the best approximation for the realrate of interest that Cambridge State Bank is paying?a. 2.88 %b. 1 ¾ %c. 3 %d. 11 %

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