Answer :
Answer:
4.63%
Explanation:
( 1 + Nominal Rate ) = ( 1 + Real Rate ) * ( 1 + Inflation Rate )
= 1.13 = 1.08 x ( 1 + Inflation Rate )
1.046296 = 1 + inflation rate
Inflation rate = 0.046296 = 4.63%
Answer:
4.63%
Explanation:
( 1 + Nominal Rate ) = ( 1 + Real Rate ) * ( 1 + Inflation Rate )
= 1.13 = 1.08 x ( 1 + Inflation Rate )
1.046296 = 1 + inflation rate
Inflation rate = 0.046296 = 4.63%