What are the approximate and exact rates of inflation

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Reference no: EM131985604

Candace just purchased a certificate of deposit at her local bank with a stated rate of 5.3%. Candace has had BA3500 so she knows that the real rate the CD is paying is 3.1%. What are the approximate and exact rates of inflation that Candace is using? Take your answer out four decimal places.

Approximate ____________________ Exact ________________

Reference no: EM131985604

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