Multiple Choice
John deposits $10,000 he earned from his summer job in a savings account.The interest rate is now 1 percent,the tax rate on his interest income is 5 percent,and he expects prices to rise by 2 percent.What will be his interest income after one year?
A) 105
B) 115
C) -105
D) -95
Correct Answer:
Verified
Correct Answer:
Verified
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