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How much will need to invest today to be able

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Problem 1: If the nominal interest rate is 6.1% and the inflation rate is 2%, what is the real interest rate? Enter your answer as a percentage.

Problem 2: You are planning to buy a house in 14 years. You would like to be able to make a down payment of $75,000. The stated interest rate is 6% (APR). If interest is compounded monthly, how much will you need to invest today to be able to make your down payment?

Reference no: EM132902519

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