Multiple Choice
Over the past year, you earned a nominal rate of interest of 12.5% on your money. The inflation rate was 2.6% over the same period. The exact actual growth rate of your purchasing power was
A) 9.15%.
B) 9.90%.
C) 9.65%.
D) 10.52%.
Correct Answer:
Verified
Correct Answer:
Verified
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