Multiple Choice
Over the past year, you earned a nominal rate of interest of 9% on your money. The inflation rate was 3% over the same period. The exact actual growth rate of your purchasing power was
A) 15.5%.
B) 10.0%.
C) 5.8%.
D) 4.8%.
E) 15.0%.
Correct Answer:
Verified
Correct Answer:
Verified
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