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Hubbard et al. (2009) studied frailty in the elderly and found that:
Nominal Return
The return on an investment without adjusting for factors like inflation, representing the raw or unadjusted profit or loss.
After-Tax Real Rate
The interest rate after the adjustment for taxes and inflation.
Inflation Rate
The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling.
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