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Over the Past Year, You Earned a Nominal Rate of Interest

Question 78

Multiple Choice

Over the past year, you earned a nominal rate of interest of 14% on your money. The inflation rate was 2% over the same period. The exact actual growth rate of your purchasing power was


A) 11.76%.
B) 16.00%.
C) 15.02%.
D) 14.32%.

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