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The correct equation is r = n/i where r, n and i are expressed as ratios (e.g. 1.2 for +20%, 0.8 for −20%). As an example, when the inflation rate is 3%, a loan with a nominal interest rate of 5% would have a real interest rate of approximately 2% (in fact, it's 1.94%).
Following the 2007–2008 financial crisis, sterling depreciated sharply, declining to £1 to US$1.38 on 23 January 2009 [118] and falling below £1 to €1.25 against the euro in April 2008. [119] There was a further decline during the remainder of 2008, most dramatically on 29 December when its euro rate hit an all-time low at €1.0219 ...
In 2003, according to one estimate, 1.4 million students took the SAT and 1.4 million also took the ACT test, [97] paying about $50 per test. [98] Generally counselors suggest that students should plan on taking the SAT or ACT test twice, so that a low score can possibly be improved. [ 100 ]