Suppose that the only good you purchase is premium bottled water and that at the beginning of the year, the price of a bottle is$2.00. Suppose you lend $1000 for one year at an interest rate of 10.4 percent. At the end of the year, the price of premium bottled water has risen to $2.13
Calculate the real interest rate on the loan. _______%. (Enter your response as a percentage rounded to one decimal place.)