The money demand function is given by 𝑀 𝑑 = 𝑚 0 − 𝑚 1 𝑖 , where 𝑚 0 = 7.5 , 𝑚 1 = 32 , and 𝑖 denotes the nominal interest rate. The money supply is 𝑀 𝑠 = $ 5.3 . Calculate the nominal interest rate the clears the market for money. Round your answer to the nearest tenth of a percent.数值题

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