Multiple Choice
Over the past year, you earned a nominal rate of interest of 8% on your money. The inflation rate was 3.5% over the same period. The exact actual growth rate of your purchasing power was
A) 15.55%.
B) 4.35%.
C) 5.02%.
D) 4.81%.
E) 15.04%.
Correct Answer:
Verified
Correct Answer:
Verified
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