Multiple Choice
In January 2009, you can put your savings in a Bank of America account and be paid 2 percent per year. During 2009, suppose the inflation rate is 3.4 percent. In 2009 you earned a real interest rate of
A) 0.59 percent.
B) 6.8 percent.
C) -1.4 percent.
D) 1.4 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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