If a lender charges a nominal interest rate of 6% and expects inflation to be 3%, they expect to earn a real interest rate of

2.91%

Explanation:

The computation of the real interest rate is shown below:

Real interest rate is

= (1 + nominal interest rate) ÷ (1 + inflation rate) - 1

= (1 + 0.06) ÷ (1 + 0.03) - 1

= (1.06 ÷ 1.03) - 1

= 2.91%

Hence, the expected real interest rate earned is 2.91% and the same is to be considered

We simply applied the above formula

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.