Ben has $2 comma 000 in his savings account and the bank pays an interest rate of 14 percent a year. The inflation rate is 9 percent a year. The government taxes the interest that Ben earns on his deposit at 10 percent. Calculate the nominal after-tax interest rate and the real after-tax interest rate that Ben earns. >>> Answer to 1 decimal place. >>> If your answer is negative, include a minus sign. If your answer is positive, do not include a plus sign. The nominal after-tax interest rate is nothing percent a year.
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