Multiple Choice
A year ago, you invested $2,500 in a savings account that pays an annual interest rate of 5.7%. What is your approximate annual real rate of return if the rate of inflation was 1.6% over the year?
A) 4.1%
B) 2.5%
C) 2.9%
D) 1.6%
Correct Answer:
Verified
Correct Answer:
Verified
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