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Unformatted text preview: QUIZ 7 3. Over the past year you earned a nominal rate of interest of 10 percent on your money. The inflation rate was 5 percent over the same period, and your marginal tax rate was 30%. A) What was the exact actual growth rate of your purchasing power before taxes? B) What was the exact actual growth rate of your purchasing power after taxes? (3 points)...
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This note was uploaded on 09/26/2011 for the course FIN 334 taught by Professor Fin334 during the Winter '10 term at Ill. Chicago.
- Winter '10