What is the true income tax rate on interest income if the nominal interest rate is 8 percent a year, the inflation rate is 5 percent a year, and the tax rate on nominal interest is 25 percent? The true income tax rate is nothing percent.

66.67%

Explanation:

First, we need to calculate the Interest paid

Tax Paid = 25% x 8% = 2%

Tax paid is the nominal rate, now we need to calculate the real rate.

Before-tax real interest rate = Nominal Interest rate - Inflation rate

Before-tax real interest rate = 8% - 5% = 3%

True Income Tax rate = Tax paid / Before-tax real interest rate

True Income Tax rate = 2% / 3%

True Income Tax rate = 66.67%

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the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.