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Business, 13.02.2020 20:13 wwwchivova

Suppose Rosa is a sports fan and buys only baseball caps. Rosa deposits $3,000 in a bank account that pays an annual nominal interest rate of 10%. Assume this interest rate is fixed—that is, it won't change over time. At the time of her deposit, a baseball cap is priced at $15.00. Initially, the purchasing power of Rosa's $3,000 deposit is ___ baseball caps.

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