Multiple Choice
Darius lent Alejandro $1,000 for one year with the understanding that Alejandro would repay $1,070. If the actual inflation rate was 7 percent, what was the real rate of interest Darius received?
A) 14 percent
B) 7 percent
C) 4 percent
D) 0 percent
E) −7 percent
Correct Answer:
Verified
Correct Answer:
Verified
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