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The nominal interest rate could best be described as the
rate.
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The nominal interest rate could best be described as the stated (or quoted) rate — the interest rate before adjustment for inflation.
Relation: (1 + nominal) = (1 + real) × (1 + inflation) (approx. nominal ≈ real + inflation).
Relation: (1 + nominal) = (1 + real) × (1 + inflation) (approx. nominal ≈ real + inflation).
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